Astrotech Corporation · NASDAQ:ASTC
Astrotech — Spacehab Inc \wa\ — Debt Investor Presentation (September 2005)
9 slides from Astrotech's debt investor presentation, Sep 15, 2005
Slide 1: Discussion Materials
Filed by Spacehab, Incorporated Pursuant to Rule 425 Under the Securities Act of 1933 Subject Company: Spacehab, Incorporated Commission File No.: 0-27206 SPACEHAB, Incorporated Discussion Materials September 15, 2005
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation may include forward-looking statements. These forward-looking statements include comments with respect to assumptions relating to projected growth, earnings, earnings per share and other financial performance measures, as well as management’s short-term a
Slide 3: Transaction Overview
Transaction Overview • SPACEHAB, Incorporated (the “Company”) has commenced an offer to exchange its outstanding 8.00% Convertible Subordinated Notes due 2007 (the “Outstanding Notes”) for new 5.50% Senior Convertible Notes due 2010 (the “Exchange Notes”) (the “Exchange”) • Decreased coupon to 5.50%
Slide 4: Recent News and Updates
Recent News and Updates • Space Shuttle Discovery launched on July 26, 2005 after two-and-a-half year hiatus • Discovery touched down on August 9, 2005 at Edwards Air Force Base following a successful re-entry • Discovery experienced a loss of foam from its External Tank, which type of loss was resp
Slide 5: Summary Comparison Between Outstanding and Exchange Notes
Summary Comparison Between Outstanding and Exchange Notes Outstanding Notes Exchange Notes Interest Rate: 8.00% Interest Rate: 5.50% Maturity Date: October 15, 2007 Maturity Date: October 15, 2010 Ranking: Subordinated Ranking: Senior Conversion Price: $13.625 per share. Conversion Price: Starting a
Slide 6: Pro Forma Capitalization
Pro Forma Capitalization ($Millions) Pro Forma for Book Value At June 30, 2005 Adjustments Transaction Cash, Restricted Cash & Cash Equivalents $ 8.3 — $ 8.3 Revolving Facility due 2005 $ 0.0 — $ 0.0 5.5% Mortgage Loan due 2007 3.7 — 3.7 8% Convertible Subordinated Notes due 2007 63.3 (63.3) 0.0 Exc
Slide 7: Pro Forma Ownership Analysis
Pro Forma Ownership Analysis As Converted – As Converted - 8.00% 5.5% Senior Convertible Subordinated Convertible Notes and Current Notes and Preferred Stock Preferred Stock Shares % Shares % Shares % 8.00% Convertible — — 4,642,202 24.93% — — Subordinated Notes due 2007 5.5% Senior Convertible — —
Slide 8: Merits and Considerations of the Exchange
Merits and Considerations of the Exchange • Merits of the Exchange Notes • Senior ranking • Lower conversion price • Extended maturity to 2010 eliminates refinancing risk of Outstanding Notes in 2007 and provides management additional time to execute business plan • More restrictive covenant package
Slide 9: Timeline
Timeline September 2005 S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 October 2005 S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Denotes Holiday Week of Date Task / Objective Sept 5 Sept 12 Sept 19 S
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