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  "documentTitle": "ROTH Capital Partners | Investment Banking Pitch Book | 28 slides",
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      "text": "Implied enterprise value of $42.3MM. Implied equity value of $16.4MM to Minority Holders, of which $14.8M will be paid in cash. The remaining balance related to \"Restricted Securities\" will be exchanged",
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      "text": "Buyer Consortium to contribute their shares pursuant to an equity commitment agreement. Restricted Securities to be exchanged into Parent shares at the Exchange Ratio. Fang Holdings to provide cash to fund the merger. Fang Holdings has in excess of $50 million on its balance sheet",
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      "text": "CIH is being acquired in a cash transaction for $1.00/sh by Buyer. Buyer includes a group of existing ADS and shareholder participants led by Fang Holdings, collectively the 'Buyer Consortium'. The Buyer Consortium represents approx. 82% ownership and 95% voting control of CIH. The Buyer Consortium shares are excluded from the transaction. The Buyer Consortium is lead by Fang Holdings Limited, the entity from which CIH was spun-out of in 2019, and its controlling shareholder, Tianquan Mo. Expected closing Q1 2023",
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      "text": "1) The \"Exchange Ratio\" is the ratio of the Per Share Merger Consideration divided by the fair market value of one share of Parent as of the Effective Time",
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      "text": "Transaction Overview Summary of the Proposal",
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