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  "documentTitle": "Tudor, Pickering, Holt & Co | Investment Banking Pitch Book | 12 slides",
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  "authorName": "Tudor Pickering Holt",
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  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2018-09-01 00:00:00",
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  "pageNumber": 4,
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  "slideType": "financial_analysis",
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  "notes": "Includes a table showing sensitivity of total value to AMGP stock price and two charts illustrating the fixed exchange ratio and the resulting linear value relationship.",
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      "kind": "callout",
      "text": "CONFIDENTIAL DRAFT SUBJECT TO CHANGE",
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      "kind": "chart",
      "text": "Value of Shares to be Issued to AM Unitholders",
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      "kind": "chart",
      "text": "AMGP Shares to be Issued to AM Unitholders",
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      "text": "Overview of AM unitholders receiving fixed AMGP shares, with an illustrative example of conversion ratios.",
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      "text": "Mechanic Risks/Benefits: Value moves with stock price; pro forma accretion set at signing.",
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      "kind": "list",
      "text": "Considerations (Pros/Cons): Common mechanic, focused on intrinsic value split, exposure to upside/downside, heavily negotiated.",
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      "kind": "source-note",
      "text": "Source: FactSet as of 9/26/2018. Note: Assumes all equity transaction at offer based on Equity XR to Non-AR unitholders of 1.6350x and AR of 1.6023x. (1) Represents XR to Non-AR AM unitholders.",
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      "text": "Closing AMGP Stock Price, No. of AMGP Shares Issued, Total $ Value of AMGP Shares Issued, Exchange Ratio table.",
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      "text": "Stock Consideration Mechanics",
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      "text": "Fixed Exchange Ratio | Current Proposed Structure",
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