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efta-efta00583331DOJ Data Set 9OtherILLUSTRATIVE COMPARISON OF JAWBONE OPTIONS
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DOJ Data Set 9
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efta-efta00583331
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ILLUSTRATIVE COMPARISON OF JAWBONE OPTIONS
CRITERIA
OPTION 1 - CITIC / JPM LED REFINANCING
OPTION 2 - LIQUIDATION SALE
Value to Blackrock
$50 million new rollover note, plus
$25 million in cash, less fees, expenses and
litigation costs, subject to contract and diligence
$100 million rollover equity
Value to Other Stakeholders
Series 8 (JPM et al): 10% rollover
Series 9 (KIA): 7.9% rollover
Employees: new option pool for continuity
Zero. Total loss
Posture to Other Stakeholders
Friendly
Hostile
Conditions to Complete
Transaction
JPM to provide working capital bridge - requiring
Blackrock's consent
High risk of business interruption / chapter 7
liquidation
Fitbit Litigation Financing
Third party term sheet secured. Potential upside
from lawsuit with Fitbit
None. Unclear who bears expenses
EFTA00583331
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