Exhibit 99.1
Masterworks 012, LLC | ||||||
Gross Artwork Sale Proceeds | $ | 2,222,500.00 | * | |||
(+) | Cash on Balance Sheet | $ | 121.00 | |||
(-) | Sale Expenses Charged to Issuer | $ | 0.00 | |||
= | Net Liquidation Proceeds | $ | 2,222,621.00 | |||
(-) | Class B Shares | $ | (100.00 | ) | ||
(-) | Class B Profit Share | $ | (191,736.20 | ) | ||
= | Distributable Proceeds to Class A Shares | $ | 2,030,784.80 | |||
(/) | Total Class A Shares Outstanding | 63,192 | ** | |||
= | Distributable Proceeds per Class A Share | 32.14 | ||||
(/) | Initial Offering Price per Class A Share | 20.00 | ||||
= | Multiple on Invested Capital (MOIC) | 1.61 | ||||
Offering period | ||||||
Cash Receipt Date | 7/3/2023 | |||||
(-) | Final Offering Close Date | 7/31/2020 | ||||
= | Days from final close to cash receipt | 1,067 | ||||
(/) | Days of year | 365 | ||||
= | IRR Period (in years) | 2.92 | ||||
IRR Calculation | ||||||
MOIC | 1.61 | |||||
IRR Period (in years) | 2.92 | |||||
IRR | 17.6 | % |
*Reflects deduction of a third-party advisor fee.
**Reflects 2,692 Class A shares issued in respect of administrative service fees to Masterworks Administrative Services, LLC.