Baird | Investment Banking Pitch Book | 29 slides

Baird · 2018-07
arc beats above · slides in the middle · loops below · scroll → 2 LOOPS
SETUP TENSION ANALYSIS EVIDENCE RESOLUTION APPENDIX
HOVER FOR DETAILS · CLICK A SLIDE FOR FULLSCREEN · STEP 1
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Slide inventory

29
every slide · same image gating as the playbook
01
Slide 1
Includes Baird logo and disclaimer.front_matter
Open slide detailBeat · Situation & Context
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summarize
Open slide detailBeat · Situation & Context
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transition
Open slide detailBeat · Situation & Context
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Represents closing prices as of June 28, 2018.quantify_impact
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
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The slide uses bar charts to compare 'Status Quo' vs 'Pro Forma for Proposal' scenarios, highlighting specific accretion/dilution values and percentages.quantify_impact
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
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Includes projections for 2020E-2022E. Source: Antero management projections.quantify_impact
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
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The slide uses a waterfall chart to show the flow of cash and a donut chart to show the percentage distribution of cash.analyze_data
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
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The chart compares two scenarios side-by-side using line graphs with data labels.analyze_data
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
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The slide compares current market metrics against a pro forma scenario for a potential transaction.compare_options
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
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transition
Open slide detailBeat · Problem & ComplicationLoop · Logic Chain
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Red box highlights the current proposal scenario.analyze_data
Open slide detailBeat · Evidence & Proof
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The slide shows the impact of different exchange ratios (1.6x to 2.0x) on distributions compared to the status quo.analyze_data
Open slide detailBeat · Evidence & Proof
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Includes a sensitivity analysis on exchange ratios ranging from 1.6x to 2.0x.quantify_impact
Open slide detailBeat · Evidence & Proof
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The table shows the impact of different exchange ratios on cash flow allocation compared to the Status Quo.analyze_data
Open slide detailBeat · Evidence & Proof
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The slide highlights the impact of exchange ratios on distribution growth and valuation multiples.compare_options
Open slide detailBeat · Evidence & Proof
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transition
Open slide detailBeat · Evidence & Proof
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Includes a sensitivity table for implied all-in exchange ratios based on different cash components.analyze_data
Open slide detailBeat · Evidence & Proof
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Includes a small data table inset in the bottom-left chart.quantify_impact
Open slide detailBeat · Evidence & Proof
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transition
Open slide detailBeat · Evidence & Proof
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The calculation is: 18.5 million shares * $18.61/share = $344 million.quantify_impact
Open slide detailBeat · Evidence & ProofLoop · Cost Of Inaction
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The slide compares two specific conversion mechanics and provides a terminal yield sensitivity analysis for a status quo scenario.compare_options
Open slide detailBeat · Impact & Next StepsLoop · Cost Of Inaction
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Includes a sensitivity analysis table for discount rate vs terminal yield.quantify_impact
Open slide detailBeat · Impact & Next StepsLoop · Cost Of Inaction
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Includes a red dashed annotation highlighting the 1.2x coverage ratio assumption.quantify_impact
Open slide detailBeat · Impact & Next StepsLoop · Cost Of Inaction
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The slide uses a series of tables to compare five different share exchange scenarios (18.5mm to 7.5mm).analyze_data
Open slide detailBeat · Impact & Next StepsLoop · Cost Of Inaction
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The slide includes a bar chart comparing cash flows from 2019-2022 and a table showing the derivation of implied shares.quantify_impact
Open slide detailBeat · Impact & Next StepsLoop · Cost Of Inaction
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transition
Open slide detailBeat · Impact & Next Steps
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compare_options
Open slide detailBeat · Impact & Next Steps
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Includes a valuation buildup for implied premium and three comparative bar charts showing standalone vs pro forma projections.analyze_data
Open slide detailBeat · Impact & Next Steps
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Includes a comparison of current market entities versus pro forma proposals.compare_options
Open slide detailBeat · Impact & Next Steps