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  "documentTitle": "Moelis & Company | Investment Banking Pitch Book | 44 slides",
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  "authorName": "Moelis & Company",
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  "notes": "Includes a disclaimer about the use of Orlando management projections vs Napa standalone projections.",
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      "text": "Due to negative projected unlevered free cash flow in the final year, the prices to the left cannot imply a meaningful perpetuity growth rate...",
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      "text": "Moelis conducted the illustrative analysis below as part of its due diligence. This illustrative analysis is shown to provide context of Napa on a standalone basis...",
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      "text": "Source: Napa Management, Napa Filings. Note: Assumed date of 11/30/16. Excludes NOLs per Orlando Management...",
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