EX-99.2 3 dex992.htm INVESTOR PRESENTATION Investor Presentation
1
Ascend Acquisition Corp.
Merger with
e.PAK
Resources (S) Pte. Ltd.
April 2008
Exhibit 99.2

2
Cautionary Statements
THE ATTACHED SLIDESHOW WAS FILED ON APRIL 14, 2008 ON FORM 8-K.  ASCEND IS HOLDING FROM
TIME TO TIME PRESENTATIONS FOR CERTAIN OF ITS STOCKHOLDERS, AS WELL AS OTHER PERSONS
WHO MIGHT BE INTERESTED IN PURCHASING ASCEND’S SECURITIES, REGARDING ITS ACQUISITION OF
E.PAK RESOURCES (S) PTE. LTD., AS DESCRIBED IN THE REGISTRATION STATEMENT ON FORM S-4 BY
ePAK INTERNATIONAL LIMITED, THE PUBLIC COMPANY FOLLOWING THE TRANSACTION 
.
THE
ATTACHED SLIDESHOW, AS WELL AS THE 8-K AND S-4, MAY BE DISTRIBUTED TO ATTENDEES OF THESE
PRESENTATIONS. ASCEND AND ITS DIRECTORS AND EXECUTIVE OFFICERS MAY BE DEEMED TO BE
PARTICIPANTS IN THE SOLICITATION OF PROXIES FOR THE SPECIAL MEETING OF STOCKHOLDERS TO
BE HELD TO APPROVE THE ACQUISITION, AS WELL AS THE RELATED REDOMESTICATION OF THE PUBLIC
COMPANY TO BERMUDA (“BERMUDA PUBCO”).  STOCKHOLDERS OF ASCEND AND OTHER INTERESTED
PERSONS ARE ADVISED TO READ, WHEN AVAILABLE, ASCEND’S FINAL PROSPECTUS AND PROXY
STATEMENT IN CONNECTION WITH THE CONVERSION OF ASCEND’S SHARES AND WARRANTS
INTO
BERMUDA
PUBCO’S
SHARES
AND
WARRANTS
AND ASCEND’S SOLICITATION OF PROXIES FOR THE
SPECIAL MEETING BECAUSE THIS DOCUMENT WILL CONTAIN IMPORTANT INFORMATION.  SUCH
PERSONS CAN ALSO READ ASCEND’S FINAL PROSPECTUS FROM THE IPO, DATED MAY 11, 2006, FOR A
DESCRIPTION
OF
THE
SECURITY
HOLDINGS
OF
ASCEND’S
OFFICERS
AND
DIRECTORS
AND
OF
OTHER
INTERESTED
PERSONS, INCLUDING EARLYBIRD CAPITAL, INC AND CHARDAN CAPITAL,
LLC, 
AND
THEIR
RESPECTIVE INTERESTS IN THE SUCCESSFUL CONSUMMATION OF THIS BUSINESS
COMBINATION.
THE
FINAL
PROSPECTUS
AND
PROXY
STATEMENT
WILL
BE
MAILED
TO
STOCKHOLDER
S
AS
OF
A
RECORD
DATE TO BE ESTABLISHED FOR VOTING ON THE ACQUISITION.  STOCKHOLDERS
WILL ALSO BE ABLE TO OBTAIN A COPY OF THE FINAL PROSPECTUS AND PROXY STATEMENT, WITHOUT
CHARGE, BY DIRECTING A REQUEST TO: ASCEND ACQUISITION CORP, 435 DEVON PARK DRIVE,
BUILDING 400, WAYNE, PENNSYLVANIA 19087.  THE PRELIMINARY AND FINAL PROSPECTUSES AND
PROXY STATEMENTS, ONCE AVAILABLE, CAN ALSO BE OBTAINED, WITHOUT CHARGE, AT
THE
SECURITIES
AND
EXCHANGE
COMMISSION’S
INTERNET
SITE
(HTTP://WWW.SEC.GOV).
CURRENT
FILINGS
AND
FUTURE
FILINGS
WILL
BE
UNDER
THE
ISSUER
NAME
ePAK
INTERNATIONAL
LIMITED.
……………...

3
Forward Looking Statements
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:
THIS PRESENTATION AND ACCOMPANYING ORAL REMARKS MAY CONTAIN FORWARD-LOOKING
STATEMENTS
THAT
INVOLVE
RISKS
AND
UNCERTAINTIES
THAT
COULD
CAUSE
ACTUAL
RESULTS
TO
DIFFER
MATERIALLY
FROM
THOSE
DESCRIBED.
SUCH
FACTORS
INCLUDE,
BUT
ARE
NOT
LIMITED TO, THE COMPANY’S ABILITY TO EFFECT A BUSINESS COMBINATION, EPAK’S ABILITY TO
GROW FUTURE REVENUES AND EARNINGS, CHANGES IN DEMAND FOR EPAK’S PRODUCTS,
MARKET ACCEPTANCE OF THE COMPANY’S PRODUCTS, CHANGES IN THE LAWS OF THE PEOPLE’S
REPUBLIC OF CHINA THAT AFFECT THE COMPANY’S OPERATIONS, RISKS OF BEING DOMICILED
OUTSIDE OF THE UNITED STATES AND OTHER FACTORS DETAILED FROM TIME TO TIME IN THE
COMPANY'S
FILINGS
WITH
THE
UNITED
STATES
SECURITIES
AND
EXCHANGE
COMMISSION
AND
OTHER REGULATORY AUTHORITIES INCLUDING THE PROSPECTUS AND PROXY STATEMENT TO BE
FILED IN CONNECTION WITH THE PROPOSED ACQUISITION. THE COMPANY UNDERTAKES NO
OBLIGATION TO PUBLICLY UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENTS, WHETHER
AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE. AS USED HEREIN, THE
"COMPANY" MEANS THE COMBINED ENTITIES ASCEND ACQUISITION CORPORATION, THE BERMUDA
PUBLIC COMPANY AND EPAK RESOURCES (S) PTE LTD, FOLLOWING THE INTENDED ACQUISITION
OF EPAK BY ASCEND. THIS PRESENTATION SUPERSEDES ANY PRIOR INVESTOR PRESENTATION
FILED UNDER A CURRENT REPORT ON FORM 8-K REGARDING THE TRANSACTIONS DESCRIBED
HEREIN. EPAK’S FINANCIAL INFORMATION AND DATA CONTAINED HEREIN FOR 2002 AND 2003 IN
THE EXHIBITS HERETO HAS BEEN PREPARED BY EPAK AS A PRIVATE COMPANY, AND WAS
PREPARED IN ACCORDANCE WITH THE PUBLISHED RULES AND REGULATIONS OF THE SINGAPORE
FINANCIAL REPORTING STANDARD AND HAS NOT BEEN AUDITED UNDER UNITED STATES
GENERALLY ACCEPTED ACCOUNTING PRINCIPLES AND MAY NOT CONFORM TO SEC REGULATION
S-X. FINANCIAL INFORMATION AND DATA CONTAINED HEREIN FOR PERIODS OTHER THAN 2002 AND
2003 HAVE BEEN PREPARED IN ACCORDANCE WITH UNITED STATES GENERALLY ACCEPTED
ACCOUNTED
PRINCIPLES.
ALL
FINANCIAL
AMOUNTS
PRESENTED
HEREIN
AND
IN
THE
EXHIBITS
HERETO ARE IN US DOLLARS UNLESS SPECIFICALLY NOTED OTHERWISE.

4
ePAK
Investment Merits
Leading full service supplier of semiconductor transfer and handling products
Over 500 customers worldwide including Toshiba, Texas Instruments and Seagate
No single customer accounts for more than 10% of sales
PRC-based operations led by veteran semiconductor industry team
Accelerating revenue and earnings growth
Revenues have a CAGR of 30%
Capital infusion provides further acceleration
Sustainable high margins
Mission critical for customer manufacturing yields
High barriers to entry
Advanced low cost manufacturing
Consistent market growth, low volatility
Single-use consumable products, recurring revenue stream
Demand driven by consistent semiconductor unit-volume growth
Multiple opportunities for large scale growth in $40 billion market

5
Post Transaction Capitalization
Investment
Primary Shares
Fully Diluted
Fully Diluted +
Incentive Shares
  Ownership Percent
Initial
Final
ePak Shareholders
8,601,002
           
8,601,002
           
8,866,577
                 
50.10%
28.09%
SPAC Investors
Common
$38,502,000
8,566,667
           
8,566,667
           
8,566,667
                 
49.90%
27.14%
Warrants
$70,666,670
14,133,334
         
14,133,334
               
44.77%
TOTALS
$109,168,670
17,167,669
         
31,301,003
         
31,566,578
               
100.00%
100.00%
Approximate cash at closing
$35,000,000
Approximate cash from Warrants exercised
$70,666,670
Total Cash
$105,666,670
Includes incentive shares

Incentive Based Compensation
Owners of ePAK, on an all-or-none-basis each year, will be issued
88,525 shares
of common stock if they achieve EBITDA in the
following amounts for 2008, 2009, and 2010:
Year
EBITDA (USD)
Enterprise Value/EBITDA
2008
$  14,727,000
4.4x
2009
$  24,268,000
2.6x
2010
$  37,935,000
1.7x
6

7
ePAK
Overview
Dedicated to servicing the Semiconductor and
Electronics Industry
Founded in 1999
600,000 sq foot central manufacturing: Shenzhen, PRC
Executive Offices:  Austin, TX
9 sales offices, 40 warehouses worldwide
Over 500 customers
1,500 employees
100+ English-speaking engineering and technical staff
ePak
provides its customers with a combination of highly engineered customized
products, value added services, delivery logistics and customer service

8
Core management team 15 years in partnership
Semiconductor industry veterans
75 top sales and senior manufacturing executives together since 1992
23 patents granted, 31 patents pending
Officer
Position
Years in
Industry
Previous Experience
Steve Dezso
CEO
20
Peak, E-Systems
MS Khoo
COO
25
Peak, AMD, Thomson
Jim Thomas
CTO
23
Peak, Compaq, TI
Richard Brook
EVP Business Development
25
Peak, TI
Jason Lee
Senior VP Finance
5
Ernst & Young
Chun Chok
Senior VP South Asia Sales
16
Peak
Jeff Blaine
Senior VP North Asia Sales
23
Peak, TI
Executive Team

9
Systems
Automated Handling
Back End
Assembly & Test
Front End
Wafer Fabrication
ePAK
Provides Solutions from “Start to Finish”
ePAK
Value Chain

10
Favorable Market Environment
Highly fragmented global
semiconductor market
ePAK’s
products represent
<2% of customers’
total cost
Customer demand driven by
semiconductor unit volumes
Consistent YOY growth
Not
subject to cyclical
semiconductor capital equipment
volatility
11% CAGR
Total Integrated Circuits
0
50,000
100,000
150,000
200,000
250,000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Source: VLSI Research
11% CAGR
Silicon Wafer Demand
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011

11
Value Proposition
Design & Engineering
Unit volume driven and single use products
Engineering expertise
Proprietary products
Precision design and specifications
Highly customized
Service & Logistics
Customized vendor-managed inventory
Minimize expensive customer downtime
On-time delivery
Maximize customer efficiency
Manufacturing
Precision cleanroom
manufacturing
Low-cost, world-class facilities
Proprietary methods
Customers’
problems are ePAK’s
Opportunities

12
9 sales offices, 40 warehouses worldwide
Low cost, large scale manufacturing center
Central to semiconductor manufacturing
Short supply lines drive service advantage
Central Manufacturing, Global Supply
75%
15%
10%

13
ePAK
Diversified
(ENTG, 3M, ITW)
Niche
(Advantek, Peak,
CPAK)
Regional
(Dou Yee, Shinon)
Global
Service
Large
Capacity
Broad
Offering
Same Day
Delivery
Vertical
Integration
ePAK
Competitive Advantage
Engineering
Partnership

$40 B TAM
2008
$500 M TAM
2005
2001
Tape & Reel
20% of Sales
$150 M TAM
14
Industry focused, rapid adoption, brand equity
Driven by new product introductions
Capitalizing on underlying business model strengths
Business Strategy Builds on Strengths
1999
IC Handling Trays
40%  of Sales
$250 M TAM

15
Organic Growth
Every $1.00 of capital expenditure generates $2.00 of sustainable annual revenue and $0.80
of gross profits
Acquisition Growth
Highly fragmented industry open for consolidation
Active dialogue with 20 targets
•
$20mn-$60mn in revenue per target
•
10% EBITDA margin
•
Immediate accretion to earnings
Capacity Growth
Recent expansion has tripled manufacturing space and doubled clean room space
Existing excess customer demand
Increased capacity and enhanced operational efficiency
Research & Development
Accelerate new product and process development
Products currently in development:
High purity silicon handling
High density disk drive products
Other customer driven solutions
ePAKs’
Growth Strategy

16
Latest Growth Driver, Wafer Handling
Entered in 2005
~5% of TAM
Largest ePAK
performance driver
Sales: 2005 = 12%, 2006 = 22%, 2007
= 35%
50% -
60% gross margin range
Historically dominated by Entegris
(80%
of TAM)

Growth within Sales, CF from Ops, and CapEX
Audited results for 2004-2007 prepared in accordance with US GAAP; Audited 2002 and 2003 results prepared in accordance with  Singapore
GAAP.
17
85.8% CAGR
Sales ($ in millions)
$0
$10
$20
$30
$40
$50
Sales
$12.5
$15.4
$21.7
$27.0
$36.1
$46.8
2002
2003
2004
2005
2006
2007
30.2% CAGR
Capital Expenditures ($ in millions)
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
$7.0
Cap Ex
$2.2
$2.6
$3.3
$3.3
$5.1
$5.7
2002
2003
2004
2005
2006
2007
CF from Ops ($ in millions)
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
$16.0
$18.0
CF from Ops
$0.7
$1.2
$5.2
$6.5
$12.4
$15.5
2002
2003
2004
2005
2006
2007

18
Use of Proceeds
Investment in equipment and cleanrooms, rapid returns
Increase capacity to accelerate growth
Acquisition Growth
Highly fragmented industry open for opportunities
Active dialogue with 20 targets
•
$20mn-$60mn in revenue per target
•
10% EBITDA margin
•
Immediate accretion to earnings
•
Existing product line expansion
•
New product lines
New product development
High purity silicon handling
High density disk drive
Customer driven
18

19
Investment Summary
Leading full service supplier of semiconductor transfer and handling products
Central, PRC-based operations led by veteran semiconductor industry team
Accelerating revenue and earnings growth
Advanced low cost manufacturing
Consistent market growth, low volatility, consumable product
Multiple opportunities for large scale growth in a $40 billion market

Appendix

21
Summary Income Statement
Notes:
Higher raw material costs, large scale facilities expansion and high cost subcontract manufacturing due to demand
outpacing
internal
capacity
contributed
to
the
slight
decrease
in
FY07
gross
margin
versus
FY06.
Meanwhile,
4Q07
margins
showed
a
slight
improvement
as
selling
prices
were
adjusted
to
compensate
for
higher
raw
material
costs.
Further
profit
margin
improvements
are
anticipated
as
manufacturing
capacity
is
expanded
to
fill
available
space
and
high
cost
subcontracting can be pulled back in-house.
Prepared in accordance with US GAAP. EBITDA excludes certain non-cash expenses items as shown on the U.S. GAAP
statement of cash flows.
US$ in '000s
2004
2005
2006
2007
Target
Revenues
$21,732
$27,013
$36,146
$46,767
Growth
41.4%
24.3%
33.8%
29.4%
45.0%
Gross Profit
$7,175
$9,052
$13,063
$16,301
Margins
33.0%
33.5%
36.1%
34.9%
42.0%
EBITDA
$2,032
$3,430
$5,750
$7,615
Margins
9.4%
12.7%
15.9%
16.3%
24.0%
Net Income
-$88
$103
$2,179
$2,466
Margins
-0.4%
0.4%
6.0%
5.3%
18.0%

22
Comparative Valuation
Company Name
TEV/LTM
EBITDA
Forward
TEV/LTM
EBITDA
LTM P/E
Market
Cap
Stock
Price
LTM
Revenue
LTM
EBITDA
LTM Net
Income
EBITDA
Margin
Net
Income
Margin
Asyst Technologies, Inc. (ASYT)
6.8x
4.0x
70.0x
181
3.65
490
35
3
7.2%
0.5%
ATMI Inc. (ATMI)
9.9x
8.4x
24.6x
942
28.40
364
75
41
20.7%
11.1%
Cabot Microelectronics Corp. (CCMP)
7.6x
8.0x
20.9x
769
32.46
350
74
37
21.2%
10.6%
Cree Inc. (CREE)
21.7x
11.8x
50.7x
2,430
28.35
434
98
40
22.6%
9.2%
Entegris Inc. (ENTG)
7.4x
6.7x
21.0x
856
7.44
626
102
46
16.3%
7.4%
FormFactor, Inc. (FORM)
3.1x
9.8x
12.7x
907
18.65
462
122
73
26.4%
15.8%
Illinois Tool Works (ITW)
8.8x
8.3x
14.7x
26,100
49.54
16,170
3,150
1,830
19.5%
11.3%
MEMC Electronic Materials (WFR)
16.6x
12.9x
20.7x
16,830
73.65
1,920
931
826
48.5%
43.0%
Mean
10.2x
8.8x
29.4x
6,127
30.27
2,602
573
362
22.8%
13.6%
ePak(Based $50.6M transaction consideration)
7.7x
20.2x
($ in millions, except per share data)

23
Don K. Rice –
Chairman and CEO
Co-founder of Ascend Acquisition Corporation
Responsible for overseeing investment and management of ~$1billion in ~80 private companies
1989 to current, Managing Partner of RSTW Partners and Capital Point Partners
Invests primarily in the subordinated debt/minority equity of micro cap companies
1984 to 1988
President and CEO of First Texas Merchant Banking Group
Specialized in providing subordinated debt financing
Vice President of PruCapital
(Prudential Insurance Company)
B.B.A and M.B.A from University of Texas
Steve Dezso –
CEO
1999 to current, ePAK’s
President, CEO, and director
Vice President of Peak International Limited
Responsible for North American operations
Vice
President
Business
Development
PC
Markets
for
NonVolatile
Electronics
and
Design
engineer for E-Systems
Bachelor
of
Science
degree
in
Electrical
Engineering
and
Masters
of
Business
Administration
degree from University of Texas
Strong Management Team

24
Amalgamation/Redomicile
in Bermuda
Surviving company ePAK
International Limited
Bermuda registered corporation
All common stock and warrants outstanding exchanged 1:1
Tax efficient corporate structure
Preserves capital and retained earnings where they are most efficiently
deployed
NASDAQ listing sought, prospective ticker EPAK

25
Semiconductor & Electronics
ePAK
Focus

26
Ascend Acquisition Corporation
Don K. Rice, Chairman and CEO
435 Devon Park Drive, Bldg. 400
Wayne, PA 19087
Phone: 610-519-1336
don@ascendgrowth.com
www.ascendgrowth.com
ePAK
International Inc.
Steve Dezso, CEO
4926 Spicewood Springs, #200
Austin, TX 78759
Phone: 512-231-8083
steve.dezso@epak.com
www.epak.com
Investor Relations
Crocker Coulson, President
CCG Elite
1325 Avenue of the Americas, Suite 2800
New York, NY 10019
Phone:  646-213-1915
crocker.coulson@ccgir.com
www.ccgir.com
Contact Information