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  "documentTitle": "Tudor, Pickering, Holt & Co | Investment Banking Pitch Book | 123 slides",
  "authorId": "tudor-pickering-holt-co",
  "authorName": "Tudor Pickering Holt",
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  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2018-06-01 00:00:00",
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  "density": "overcrowded",
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  "notes": "Includes a confidential draft watermark and detailed footnotes regarding transaction mechanics.",
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      "text": "CONFIDENTIAL DRAFT SUBJECT TO CHANGE",
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      "text": "AMGP Ownership Comparison: Status Quo (Sponsors 38.0%, Existing Public 42.0%, Mgmt 20.0%)",
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      "text": "Pro Forma Ownership: Prior AM Public 28.7%, Existing Public 14.9%, Mgmt 7.1%, Series B 3.5%, Sponsors 13.5%, AR 32.3%",
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      "text": "Source: FactSet as of 6/21/18. (1) Includes equity issued for Series B unit conversion into AMGP shares. (2) Assumes Cash consideration per unit paid to cover transaction related taxes and avoid downward pressure on PF AMGP share prices from tax motivated liquidations. (3) Provided by Management. (4) Equity ownership does not reflect the gross up of the Potential Counterproposal XR for the $3.50 cash consideration.",
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      "text": "Potential Counterproposal Transaction Assumptions: Transaction effective on 6/30/2018; To acquire AM, AMGP will convert into a C-Corp in a 100% stock transaction; Potential counterproposal assumes: Each outstanding AM common unit exchanged for 1.7 AMGP shares; Cash consideration of $3.50 paid to all unitholders; All existing Series B units exchanged for 18.5mm AMGP shares; Cash consideration assumed to purchase additional secondary shares",
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      "text": "Sources & Uses at Potential Counterproposal: Sources (AMGP Equity Issued $6,476, AM Debt Rolled $1,394, Revolver Draw $658, Total $8,528) and Uses (Purchase AM Units $6,109, Conversion Series B $354, Cash Consideration $658, Transaction Fees $13, AM Existing Debt $1,394, Total $8,528)",
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      "text": "Transaction Assumptions",
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