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  "documentTitle": "Houlihan Lokey | Investment Banking Pitch Book | 48 slides",
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  "authorName": "Houlihan Lokey",
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  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2023-01-01 00:00:00",
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  "notes": "Financial analysis slide detailing offer terms and valuation premiums.",
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      "text": "Proposal implies an aggregate equity value of ~$308 million",
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      "kind": "disclaimer",
      "text": "1. Reflects historical trading prices of Twins common stock. 2. Based on trading prices as of 10/25/22. 3. Based on trading prices as of 9/1/22. 4. 52-week high closing price as of both dates reflects closing per share price as of 11/15/21. 5. 52-week low closing price as of 9/1/22 reflects closing per share price as of 3/11/22 and 52-week low closing price as of 10/25/22 reflects closing per share price as of 10/7/22. VWAP refers to Volume-Weighted Average Price. Sources: Bloomberg and Capital IQ.",
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      "text": "On 9/2/22, the Board of Directors of Twins received the Proposal from the Angels Parties to purchase all of the outstanding shares of Twins common stock not already owned by the Angels Parties for cash consideration of $6.00 per share. The Proposal is contingent on approval by the Special Committee and a majority vote of Unaffiliated Stockholders. The Angels Parties have indicated that they have no interest in participating in an alternative change of control transaction involving the Company. The Angels Parties have indicated that (i) diligence requirements will be limited, (ii) definitive documents will not be subject to financing conditions and (iii) at the appropriate time, they would like to discuss the possibility of certain stockholders rolling over their shares in the proposed transaction",
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