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  "documentTitle": "Baird | Investment Banking Pitch Book | 29 slides",
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  "authorName": "Baird",
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  "presentationDate": "2018-07-01 00:00:00",
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  "pageNumber": 21,
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  "notes": "The slide compares two specific conversion mechanics and provides a terminal yield sensitivity analysis for a status quo scenario.",
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      "kind": "callout",
      "text": "Assesses the potential value of the Series B if held until 2022 under a Status Quo Scenario",
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      "text": "Source: Antero management projections. (1) As of June 28, 2018. (2) Equals Series B Equity Value divided by Current AMGP Price. (3) Equals AMGP 2022E Distributions divided by Estimated Terminal Yield.",
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      "text": "Potential Status Quo Series B Valuation in 2022E",
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      "text": "Current Proposal Conversion vs. AM Acquires AMGP Conversion Mechanics",
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      "text": "SERIES B UNIT VALUATION SPECTRUM",
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