EX-99.(C)(6) 8 nc10002999x2_exc-6.htm EXHIBIT (C)(6)

Exhibit (c)(6)

       PRELIMINARY & CONFIDENTIAL  February 21, 2019  Pro Forma Leverage Analysis   
 

 PRELIMINARY & CONFIDENTIAL      Pro Forma Leverage Overview | From GS    2 
 

 PRELIMINARY & CONFIDENTIAL      Pro Forma Leverage | BF Does Not Roll Equity  3  Sources & Uses Assuming $42.50 Purchase Price   Sources     France Family Equity Rolled (excl. BF)  $634  Brian France Equity Rolled  –  Nova Cash on BS  22  Ignite Cash on BS  269  Minority Investment  –  New Debt  1,464  Total Sources  $2,389   Uses     Purchase Equity  $1,846  Paydown Ignite Debt  264  Paydown Nova Debt  114  Fees and Expenses  65  Minimum Cash  100  Total Uses  $2,389  Sensitivity    Purchase Price  Implied Leverage  $42.50  4.5x  $44.00  4.6x  $46.00  4.8x  $48.00  5.0x  $50.00  5.2x  $52.00  5.4x 
 

 PRELIMINARY & CONFIDENTIAL      Pro Forma Leverage | BF Rolls Equity  4  Sources & Uses Assuming $42.50 Purchase Price   Sources     France Family Equity Rolled (excl. BF)  $634  Brian France Equity Rolled  148  Nova Cash on BS  22  Ignite Cash on BS  269  Minority Investment  –  New Debt  1,315  Total Sources  $2,389   Uses     Purchase Equity  $1,846  Paydown Ignite Debt  264  Paydown Nova Debt  114  Fees and Expenses  65  Minimum Cash  100  Total Uses  $2,389  Sensitivity    Purchase Price  Implied Leverage  $42.50  4.1x  $44.00  4.2x  $46.00  4.3x  $48.00  4.5x  $50.00  4.6x  $52.00  4.8x 
 

 PRELIMINARY & CONFIDENTIAL      Sources & Uses Assuming $42.50 Purchase Price  5   Sources     France Family Equity Rolled (excl. BF)  $634  Brian France Equity Rolled  –  Nova Cash on BS  22  Ignite Cash on BS  269  Minority Investment  250  New Debt  1,214  Total Sources  $2,389   Uses     Purchase Equity  $1,846  Paydown Ignite Debt  264  Paydown Nova Debt  114  Fees and Expenses  65  Minimum Cash  100  Total Uses  $2,389  Sensitivity    Purchase Price  Implied Leverage  $42.50  3.7x  $44.00  3.9x  $46.00  4.1x  $48.00  4.2x  $50.00  4.4x  $52.00  4.6x  Pro Forma Leverage | BF Does Not Roll Equity & $250MMMinority Investment