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  "docSlug": "582128d75d0b6674b6ba6c123642e167",
  "documentTitle": "Tudor, Pickering, Holt &amp; Co | Investment Banking Pitch Book | 11 slides",
  "authorId": "tudor-pickering-holt-co",
  "authorName": "Tudor, Pickering, Holt & Co",
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  "presentationDate": "2018-09-01 00:00:00",
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  "pageNumber": 6,
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  "density": "balanced",
  "nDataPoints": 14,
  "notes": "Confidential draft; source data from company filings and FactSet.",
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      "kind": "callout",
      "text": "CONFIDENTIAL DRAFT SUBJECT TO CHANGE",
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      "text": "Source: Company filings, FactSet as of 9/21/2018. Note: Series B market value based on AMGP share price calculated as [(AMGP equity value - $2bn) x 6%]/(AMGP fully diluted shares outstanding + 17.354mm) based on AMGP 20-Day VWAP on the day prior to transaction.",
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      "text": "20-Day VWAP Analysis table showing metrics like AM VWAP, AMGP VWAP, Market Implied XR, Equity Values, and Fully Diluted VWAP XR.",
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      "kind": "title",
      "text": "20-Day VWAP Exchange Ratio Analysis",
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      "arcName": "The Sequoia Pitch",
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      "structure": "Our Performance -> Industry Average -> Best-in-Class -> The Gap = The Opportunity",
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