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  "documentTitle": "Moelis & Company | Investment Banking Pitch Book | 9 slides",
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  "authorName": "Moelis & Company",
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  "presentationDate": "2016-06-01 00:00:00",
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  "notes": "The slide provides a valuation bridge from share price to enterprise value and calculates corresponding revenue multiples.",
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      "text": "Certain of Napa's operating statistics fall on the higher end of the range of those statistics for companies used in the Selected Public SaaS Companies and the Selected Precedent Transactions, and may justify utilizing materially higher multiples than the median multiples illustrated below",
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      "text": "Source: Capital IQ, Napa and Selected Public SaaS Companies' Filings, Wall Street Research. 1. Selected Precedent Transactions premiums represent premiums to 1-day prior, 1-month, 1-year average stock price, 1-year high, and 1-year low stock prices prior to deal announcement, respectively. 2. Assumes conversion of $310mm of convertible debt at prices above $116.10/share. Assumes additional make whole shares related to convertible debt at CIC. 3. NTM represents fiscal quarter ending March 31 for Napa, and Wall Street projections for next four fiscal quarters ended for Selected Public SaaS Companies",
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      "text": "Valuation sensitivity table showing premiums, share counts, equity value, debt/cash adjustments, enterprise value, and financial multiples across a range of share prices from $108.00 to $125.00.",
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