American Farmland — Merger or Acquisition (September 2016)
11 slides from American Farmland's merger presentation, Sep 19, 2016
Slide 1: Acquisition of American Farmland Company to Create the Leading Public Farmland REIT
Acquisition of American Farmland Company to Create the Leading Public Farmland REIT Investor Presentation September 12, 2016
Slide 2: Disclaimer: Cautionary Statement Regarding Forward-Looking Statements
Disclaimer Cautionary Statement Regarding Forward-Looking Statements This presentation includes forward-looking statements. These forward-looking statements generally can be identified by phrases such as “will,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases
Slide 3: Highlights
Highlights Farmland Partners Inc. (“FPI”) and American Farmland Company (“AFCO”) have jointly announced a transaction in which FPI will acquire all of the outstanding common stock of AFCO in a stock-for-stock merger . Largest Public U.S. Farmland REIT o The merger of AFCO into FPI will create the la
Slide 4: Transaction Overview
Transaction Overview . Transaction Structure o Transaction is a 100% stock merger with each share of AFCO common stock converted into the right to receive 0.7417 shares of newly issued FPI common stock o On a pro-forma fully diluted basis, former FPI equity holders will hold approximately 65% of the
Slide 5: Successful Outcome for AFCO Stockholders
Successful Outcome for AFCO Stockholders . Unlocks Value for AFCO Stockholders o The transaction, based on AFCO’s net asset value, unlocks value for its stockholders that had not been realized in its trading history o Stockholders gain stronger capitalization and increased liquidity . Successful Con
Slide 6: Expanded Footprint, Premier Assets
Expanded Footprint, Premier Assets FPI’s consolidated portfolio will gain exposure to premier farmland assets and high-quality tenants across the U.S. The Company’s institutional-grade properties have the scale and agronomic profile needed to attract and retain leading farmer partners. T:\Presentati
Slide 7: Broadened Crop and Geographic Diversification
Broadened Crop and Geographic Diversification 2016P Revenue by Region FPI Diversification by Crops ($ basis) 1 Aggregate U.S. Crop Value 2 Crop diversification will increase substantially with 26% of the consolidated portfolio value in permanent and specialty crops. As a result, the portfolio’s comp
Slide 8: Benefits of Scale and a Strong Balance Sheet
Benefits of Scale and a Strong Balance Sheet The merger is expected to create a robust farmland platform with a strong balance sheet, which will further enhance FPI’s position to pursue accretive transactions. ____________________________________ (1) Based on purchase price of acquired properties an
Slide 9: Stage Set for Further Growth
Stage Set for Further Growth . Enhanced Team o Transaction expands FPI’s farm acquisition and management team capabilities o FPI expects that Robert L. Cowan will join as President upon closing of the transaction. Mr. Cowan has more than 30 years of experience in farmland transactions and management
Slide 10: Near Term Action Plan
Near Term Action Plan Drive synergies through reduced G&A expenses Ensure seamless transition with farmer partners Continue to pursue high-quality accretive acquisitions in core farming regions Further attract institutional investment and improve liquidity
Slide 11: Q&A; Cautionary Statement Regarding Forward-Looking Statements
Q&A Cautionary Statement Regarding Forward-Looking Statements This communication includes forward-looking statements. These forward-looking statements generally can be identified by phrases such as “will,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of si
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