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      "text": "Kingswood: On August 1, 2019, Stratosphere entered into exclusivity with Kingswood; At the time, the prevailing projections were the \"4+8\" forecast indicating FY 2019E Adj. EBITDA of $35.1 million",
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      "text": "In October 2019, after hiring a new Operating Partner [Third Party], Kingswood and the Company decided to re-engage; [Third Party] met with Management in-person in Jacksonville on October 7-8, 2019 and then visited stores in Dallas on November 7, 2019 and in Orlando on November 20, 2019",
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      "text": "The Special Committee, advised by PJS, analyzed and discussed the LOI and decided to grant Kingswood exclusivity after PJS (i) negotiated an increase in price to $1.15 per share and (ii) spoke with Kingswood's placement agent (M20) to ensure it would raise its $100 million inaugural fund in August 2019",
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