Grove Collaborative Holdings, Inc. · NYSE:GROV
Grove Collaborative — Virgin Group Acquisition Corp. II — SPAC Merger (December 2021)
44 slides from Grove Collaborative's SPAC merger presentation, Dec 8, 2021
Slide 1: All Hands
All Hands Wednesday, December 8th COLLABORATIVE
Slide 2: An Exciting Milestone!!!
GR O VE C OLLABOR A TIVE C ONFIDENTIAL An Exciting Milestone!!!
Slide 3: Congratulations and THANK YOU!
GR O VE C OLLABOR A TIVE C ONFIDENTIAL Congratulations and THANK YOU!
Slide 4: Forward-Looking Statements
GROVE COLLABORATIVE C ONFIDENTIAL Forward - Looking Statements Certain statements included in this Presentation are not historical facts but are forward - looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward -
Slide 5: Agenda
Image Here *Cover gray box A g en d a 1. Why we’re going public (Stu) 2. Partnering with Virgin Group (Stu) 3. SPAC vs. Traditional IPO (Stu) 4. Estimated timeline (Janae) 5. What this means for you (Delida) 6. Communication Guidelines (Delida) 7. Resources & additional information (Delida) GROVE CO
Slide 6: Why we're going public
Image Here *Cover gray box Why weʼre going public Allows us to build on our position as the leading sustainable consumer products company transforming the industry into a force for human and environmental good Awesome opportunity to partner with a major consumer brand, that shares our mission to dis
Slide 7: What This Means For You
What This Means For You
Slide 8: Why Virgin
GROVE COLLABORATIVE C ONFIDENTIAL Why Virgin We were impressed with the heritage of Virgin Group Virgin Group’s mission to change business for good - to “create unique customer experiences, challenge the status quo and champion people and the planet” - aligns with Grove’s values Virgin is known for
Slide 9: SPAC vs. Traditional IPO
GROVE COLLABORATIVE Image Here *Cover gray box SPAC vs. Traditional IPO Considered both paths What is a SPAC? ● Special Purpose Acquisition Company (SPAC) that is already listed on the New York Stock Exchange ● Formed for the sole purpose of combining with an operating business like ours to help acc
Slide 10: Approximate Timeline
GROVE COLLABORATIVE C ONFIDENTIAL March - May Merger Close (exact timing TBD) 2022 Approximate Timeline December - February 2021 / 2022 SEC Filing
Slide 11: Your Role
Image Here *Cover gray box Your Role ● No planned executive, team or reporting structure changes ● Mission and OKRs remain the same ● Continue to execute against your initiatives! GROVE COLLABORATIVE
Slide 12: Compensation + Benefits
Image Here *Cover gray box Compensation + Benefits Ɣ Base pay and benefits remain the same Ɣ Equity awards (options and RSUs) will be converted into equity awards in the combined public entity. Ɣ Employee equity information sessions more information to be shared in upcoming compensation sessions! Ɣ We
Slide 13: Things to keep in mind
Things to keep in mind GROVE COLLABORATIVE C ONFIDENTIAL Stay grounded Continue executing Be aware of financial friends soliciting advice or services Do not trade VGII stock or warrants We’re in this together! We will continue to update the team through a series of info sessions: Updates on process,
Slide 14: Our Brand Values
Our Brand Values: We are still the same company as ever. GROVE COLLABORATIVE C ONFIDENTIAL At Grove Collaborative, weʼre making change, which means our values live out in the world. These arenʼt just words; they embody the actions weʼre taking to make our mission a reality. This is what makes us Gro
Slide 15: Communication Guidelines
Com m uni c ation Guidelines
Slide 16: Why Communications will Change
Why Communications will Change GROVE COLLABORATIVE C ONFIDENTIAL We are all becoming investors in a public company ● Public companies are governed by SEC regulations, disclosure must be made to all investors at the same time. ● This means you (our employees) must be treated as investors with regard
Slide 17: Communications Guidelines
Communications Guidelines GROVE COLLABORATIVE C ONFIDENTIAL It is critical to avoid talking about Grove beyond what is in the Press Release and its potential transaction outside of those who are aware of the potential transaction internally and externally. If you see a speculative news story regardi
Slide 18: Communications Guidelines | DO
Communications Guidelines | DO GROVE COLLABORATIVE C ONFIDENTIAL 1. DO refer to published FAQ in response to transaction related questions 2. DO be mindful that the transaction has not closed, and until it does Grove will continue to operate as a private wholly independent company 3. DO keep executi
Slide 19: Communications Guidelines | DO NOT
Communications Guidelines | DO NOT GROVE COLLABORATIVE C ONFIDENTIAL 1. DO NOT communicate with any media or investors about the transaction 2. DO NOT share private information about the transaction on social media or with friends/family 3. DO NOT allow the transaction to become a distraction 4. DO
Slide 20: Resources
R es o u r c es GROVE COLLABORATIVE C ONFIDENTIAL Got questions? Read our FAQ ● For press inquiries: PR@grove.co ● For employee stock questions: futureIPO@grove.co ● **We will answer questions that we can legally answer. Some answers may be delayed due to timing with public disclosures. Reminder! If
Slide 21: We are just getting started. Let's go!!!
We are just getting started. Letʼs go!!!
Slide 22: DEAD: Previous Version
DEAD: Previous Version
Slide 23: All Hands
Image Here *Cover gray box All Hands Wednesday, December 8th
Slide 24: A big day!!!
A big day!!! 24
Slide 25: Congratulations and THANK YOU!
Congratulations and THANK YOU! 25
Slide 26: Forward-Looking Statements
Forward - Looking Statements Certain statements included in this Presentation are not historical facts but are forward - looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward - looking statements generally are
Slide 27: Agenda
Agenda 27 ● Why we’re going public (Stu) ● Partnering with Virgin Group (Stu) ● SPAC vs. Traditional IPO (Stu) ● Estimated timeline (Phil) ● What this means for you (Delida) ● Communication Guidelines (Delida) ● Resources & additional information (Delida)
Slide 28: Why we're going public
Why we’re going public 28 ● Awesome opportunity to partner with a major consumer brand, that shares our mission to disrupt and innovate existing industries ● Allows us to build on our position as the leading sustainable consumer products company transforming the industry into a force for human and e
Slide 29: Why Virgin
Why Virgin 29 ● We were impressed with the heritage of Virgin Group ● Virgin Group’s mission to change business for good - to “create unique customer experiences, challenge the status quo and champion people and the planet” - aligns with Grove’s values ● Virgin is known for shaking up the status quo
Slide 30: SPAC vs. Traditional IPO
SPAC vs. Traditional IPO 30 ● Considered both paths ● What is a SPAC? ○ Special Purpose Acquisition Company (SPAC) that is already listed on the New York Stock Exchange ○ Formed for the sole purpose of combining with an operating business like ours to help accelerate its growth ● Faster process
Slide 31: Approximate Timeline
Approximate Timeline December - February 2021/ 2022 31 SEC Filing March - May Merger Close (exact timing TBD) 2022
Slide 32: What This Means For You
What This Means For You 328
Slide 33: Your Role
Your Role 33 ● No planned executive, team or reporting structure changes ● Mission and OKRs remain the same ● Continue to execute against your initiatives!
Slide 34: Compensation + Benefits
Compensation + Benefits 34 ● Base pay and benefits remain the same ● Employee equity at a high level ( more information to be shared in upcoming compensation sessions !) ○ Equity awards (options and RSUs) will be converted into equity awards in the combined public entity. ● We appreciate your patien
Slide 35: Things to keep in mind
Things to keep in mind 35 ● Stay grounded ● Continue executing ● Be aware of financial friends soliciting advice or services ● Do not trade VGII stock or warrants ● We’re in this together! We will continue to update the team through a series of info sessions: ○ Updates on process, timing, financial/
Slide 36: Moving forward & Our Values
36 Moving forward & Our Values At Grove Collaborative, we’re making change, which means our values live out in the world. These aren’t just words; they embody the actions we’re taking to make our mission a reality. This is what makes us Grove. ● (1) We create the best products - We are relentless ab
Slide 37: Communication Guidelines
Comm uni c ation Guidelines 37
Slide 38: Why Communications will Change
Why Communications will Change 38 ● We are all becoming investors in a public company ● Public companies are governed by SEC regulations, disclosure must be made to all investors at the same time. ● This means you (our employees) must be treated as investors with regard to certain information. ○ Tha
Slide 39: Communications Guidelines
39 Communications Guidelines ● It is critical to avoid talking about Grove and its potential transaction outside of those who are aware of the potential transaction internally and externally. ● If you see a speculative news story regarding Grove’s transaction, you should under no circumstances comme
Slide 40: Communications Guidelines
40 Communications Guidelines 2 Lorem ipsum dolor sit amet nec at adipiscing Do 3 DO keep executing on you r day to day resp onsibilities DO ask questions through the proper channels: ● Your Manager ● futur eIPO@grove.co ● PR@grove.co 4 1 DO refer to published FAQ in response to transaction related q
Slide 41: Communications Guidelines
Communications Guidelines 2 Lorem ipsum dolor sit amet nec at adipiscing 3 DO NOT allow the transaction to become a distraction DO NOT speculate on potential listing and implications for stock price performance 4 Don’t 1 DO NOT communicate with any media or investors about the transaction 2 DO NOT s
Slide 42: Resources
Resources 42 ● Got questions? Read our FAQ here ● For press inquiries: PR@grove.co ● For employee stock questions: future IPO@grove.co ○ **We will answer questions that we can legally answer. Some answers may be delayed due to timing with public disclosures. Reminder ! If you plan to speak publicly,
Slide 43: THANK YOU
THANK YOU 43
Slide 44: Slide 44
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