{
  "docId": "019de50e-91eb-710d-9189-60bafb21b351",
  "docSlug": "10f5ba3712ae7f9d2747b8f614746d2e",
  "documentTitle": "Qatalyst Partners | Investment Banking Pitch Book | 27 slides",
  "authorId": "qatalyst-partners",
  "authorName": "Qatalyst Partners",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2012-08-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3324081,
  "pageNumber": 19,
  "pageCount": 27,
  "prevPage": 18,
  "nextPage": 20,
  "slideType": "financial_analysis",
  "function": "quantify_impact",
  "density": "balanced",
  "nDataPoints": 81,
  "notes": "The table uses a mid-period discounting convention and accounts for 11% dilution.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de50e-91eb-710d-9189-60bafb21b351/19",
  "deckHref": "/decks/019de50e-91eb-710d-9189-60bafb21b351",
  "deckJsonHref": "/decks/019de50e-91eb-710d-9189-60bafb21b351.json",
  "deckAnchorHref": "/decks/019de50e-91eb-710d-9189-60bafb21b351#slide-19",
  "components": [
    {
      "bbox": {
        "h": 0.15,
        "w": 0.9,
        "x": 0.05,
        "y": 0.2
      },
      "kind": "list",
      "text": "Summary of Valuation Assumptions: Unlevered free cash flow, excludes one-time items, WACC 11-14%, Terminal multiple 6-8x, 11% dilution.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6d8d4fa4-1ace-48ee-9dea-e3328c3c96c8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.9,
        "x": 0.05,
        "y": 0.82
      },
      "kind": "source-note",
      "text": "Note: Assumes mid-period discounting convention. (1) Arbor Management Case projections... (2) Capitalization... (3) Based on Arbor price of $22.63...",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1df519a0-204b-4e37-a8c3-cc1c9c02c6eb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.3,
        "x": 0.05,
        "y": 0.15
      },
      "kind": "subtitle",
      "text": "Based on Arbor Management Case Projections",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "862d5b9c-f117-4d4f-9be6-ec879934944f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.9,
        "x": 0.05,
        "y": 0.45
      },
      "kind": "table",
      "text": "Sensitivity table showing Implied Price Per Share across Discount Rates (11.0%, 12.5%, 14.0%) and Terminal NTM Adjusted EBITDA Multiples (6.0x, 7.0x, 8.0x).",
      "attrs": null,
      "subkind": "valuation",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2dd85650-865c-47ae-82a3-c42f808a0588",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.6,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "title",
      "text": "Preliminary Discounted Cash Flow Analysis",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a259e0ae-5093-40d3-8ce9-356928065c98",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 20,
      "from": 17,
      "beatId": "efb637f7-3b2f-4dfa-ad60-8b575a00e3e6",
      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Market Size",
      "beatSlug": "sequoia-pitch-market-size",
      "evidence": "Summary of Valuation Analyses",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}