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  "documentTitle": "Houlihan Lokey | Investment Banking Pitch Book | 8 slides",
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  "authorName": "Houlihan Lokey",
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  "notes": "Includes detailed footnotes regarding assumptions and specific investor commitments.",
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      "text": "The Founders have identified an additional $4.0 million of pre-closing funding from parties that are not expected to have signed commitment letters at Transaction signing.",
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      "text": "Note: Signing date illustratively assumed to be on or around 3/4/2024. With your approval we have assumed Parent will secure funding sufficient for the operation of the Company during the period from signing through closing. We express no view or opinion regarding the likelihood or terms of such funding. Note: Escrow at signing subject to final confirmation.",
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      "text": "Based on (i) identified sources of financing expected to sign commitment letters concurrently with execution of definitive documents related to a Transaction, (ii) operating forecasts developed by Company management and Riveron and (iii) other assumptions shown below, the Company may require incremental funds of ~$5mm to ~$8mm prior to Transaction closing.",
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      "text": "1. Per Company management and Riveron. Includes $300 thousand receipt from Customer P. 2. Represents receipt of $2.5 million from Customer A related to a licensing arrangement and new orders that will be executed in conjunction with and conditioned on signing of the Transaction. 3. In addition to the $2.5 million receipt from Customer A concurrent with signing, total customer collections between signing and closing of $4.0 million based on estimates from Company management and Riveron. 4. For 11 weeks and 12 weeks after signing, operating cash outflows and professional fees illustratively assume (i) personnel payments of ~$1.3 million in week 11 after signing, (ii) ~$0.8 million of AP payments in each week and (iii) ~$0.1 million of professional fees in each week. 5. Of the $16 million of total commitments at signing of the Transaction, $1 million may be pulled forward to Mid-April contingent on certain potential investors executing commitment letters subsequent to signing. 6. Timing of pre-closing funding of $1.5 million is subject to final confirmation. 7. Expected to deliver signed commitment letters at signing of the Transaction and fund several days after signing. Sources: Company management, Riveron. Operating forecasts developed by Company management and Riveron.",
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