Research Associate
CurrentProject Mecca: Billion Dollar TMT Merger – Industry Analysis- Led a team of 3 analysts in evaluating the current dynamics and trends in the Regional Sports Network (RSN) industry to support the terminal growth rate used in the adviser’s valuation model for a ~$1B merger.- Modeled relationship between factors (such as team success) and RSN ratings, performed comparative analyses of demographic trends between DMAs, and evaluated the changing dynamics of the value chain and profitability drivers.Project Sharp: Multi-million Dollar Pharmaceutical Non-Compete Dispute – Cash Flow Analysis- Led a team of 2 analysts in valuing ~$10M damages that resulted from sales representative breaching their non-compete clause contract by soliciting restricted clients and diverting sales.- Built a dynamic discounted cash flow model that properly accounted for risk-adjusted discount rate, timing of lost profits, diffusion of sales to competitors, and variable profit margins (using regression analysis); conducted sensitivity analyses by projecting actual and but-for sales data based on trends within historical client data.- Assisted in mediation preparation by briefing client’s counsel on drivers of changes to the model and assumptions employed.Project Hippocrates: Multi-million Dollar Valuation of Issuance of Convertible Preferred Stock to Private Equity Firm- Led a team of 3 analysts in valuing damages for PIPE transaction of ~$500M; performed comparative analysis of similar PIPE deals to establish that the terms of the client’s deal were economically reasonable.- Calculated implied yield (IRR) of 16 comparable convertible preferred transactions using DCF valuation and Black-Scholes framework; model accounted for paid-in-kind dividends, dilution, conversion premium, and mandatory conversions.
