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  "documentTitle": "Baird | Investment Banking Pitch Book | 18 slides",
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  "presentationDate": "2018-03-01 00:00:00",
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  "notes": "The slide presents financial modeling for two distinct scenarios/concessions. The table shows sensitivity analysis of implied payments based on volume misses.",
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      "kind": "callout",
      "text": "Depending on the negotiated earn-out payment discount, AR would have to miss its forecast by nearly 50% to be at risk in this construct",
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      "text": "EBITDA ($ in millions)",
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      "text": "Source: Management Base Case projections as March 23, 2017.",
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      "kind": "title",
      "text": "POTENTIAL ADDITIONAL AR CONCESSIONS",
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