EFTA01366537.pdf

Amendment #4 Page 108 of 868 bade °M t n" Dilution caution is the amount by whichIre offering prose pad by the purchasers of cur Class A common stock sold in the offering will exceed the as adiusted net hinge* took value per share of our Class A carmen pock after the offering Net targde book value per share of our Class A common stock as of a parer:Jar dale represents the anon( of our total triode assets less our total Utilities divided by the niter of shares of Class A common stock outstanding as of stth date As of March 31. 2015. after prong effect to the Fomotion Transactions. our net tangible book value would have been approximately 5514 0 million, or $482 per share of Class A carmen stock assuming that our Sponsor exchanged al of Its Global LLC Class B knits for newly issued shares of our Cuss A common stock on a onefor-ore basis Purchasers of our Class A conynon stockiness offering will experience substarlel and immediate dilution in net tangible took value per share of our Class A common stook la !Menotti accounting purposes. as illustrated in the Mowing lade Assumed inlet public offering prce per share $20 00 Net tangible book value per share as or March 31, 2015 alter giving effect to the Formation Transactions $482 Increase in as acluseed net tangos book value per share altnbutade to purchasers in fns offering and the Class A Common Private Placement 42 41 Net tangible book value per share after giving effect to the Organizational Transactons. including the offenre and the Class A Common Private Placement and the use of proceeds Therefrom 723 Invnedele *lute) in net tango* book value per share to purchases in the ortenng and the Class A Cannon Private Placement $12 77 Because our Sponsor does not currerey own any Class A common stock we have presented dilution in net tang de book value per share of Class A common stock to rwestors in this offenng assuring that our Sponsor exaenged es Global LLC Class B amts for newly Issued shares of our Class A common stock on a one-for-one tine in order to more meaningfuly present the tilutWe impact on the puchasers ri this offering. If the ureerwrters encase then option to purChase addlonal shares of our Class A common stock in full, the net tangible book value per share after giving effect to this offering would be $7 23 per share due to the decrease in pass B common stock owned by our Sponsor and the equivalent increase in Class A common stock purchased by the underwriters Ths represents an increase in net tang,* book value of $4.82 per share to our existing stocleolder a-4 dilution in net targtre took value of 512.77 per share to purchasers n the cffenng 100 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058065 CONFIDENTIAL SDNY_GM_00204249 EFTA01366537