Benefits to Our Merger Partner

KBL has attractive features vs. an IPO 


Timing

Shorter SEC review process and no IPO backlog / calendar


Pricing Risk

Pre-negotiated transaction with less exposure to unpredictable market conditions on a particular day/week


Cash to Sellers

Can receive cash at close versus being locked up


3-4% in deferred fees vs 6-7% in IPO underwriting fees

Cost


Benefit from SPAC team, existing management and investors, potential PIPE investors in addition to just investment banks

Sponsorship


Benefit from additional strategic and financial resources of SPAC team

Post-transaction