Transaction & CFO Advisory

Global Biotechnology/Venture Capital and M&A Advisory

Astrina assisted a principal of a multi-national corporation acquire a biotechnology manufacturing concern in the southern United States. Advisory services included market and competitive analysis, technology road mapping, and development of a revised strategic plan. Astrina performed intellectual property assessment of process manufacturing technology in an emerging space. The financial transaction involved complex cash flow projections, recapitalization of several classes of equity and debt, design of control provisions for the new parent, and a structured incentive plan for existing management. A successful closing allowed the company to exceed its sales targets and achieve positive cash flow within 8 months. The transaction also afforded the new owner’s option to transfer technology globally.

Complex & Contested Valuations

Family Partnership

Astrina was retained to value a family-owned agricultural merchant based in the Southeastern United States. This valuation assignment required a detailed understanding of agricultural commodity markets, global balance of trade, agricultural subsidies and monetary policies. By building an understanding of complex international factors into the valuation model, Astrina was able to discern appropriate discounts and achieve an accurate valuation for the closely held enterprise.

Buy-Sell Agreement

Astrina was retained to appraise the fair market value of a top professional services firm in the executive recruiting industry, when the founder was selling his interests. In deriving a value, Astrina prudently applied discounted cash flow, guideline company, and net book value approaches.

Hedge Fund Advisory/Telcom

Astrina performed an independent economic valuation on a portfolio of over 100 wireless patents under an exceptionally compressed time frame. Astrina studied the patent portfolio’s strength of claims, industry coverage, corporate context, licensing history, and litigation record. Astrina’s accurate appraisal enabled the hedge fund to make a prudent multi-million dollar decision.

Litigation Support & Expert Testimony

Medical Device Economic Analysis

Astrina dissected an opposition’s expert economic report in a litigation setting. Astrina then built an alternative economic model applying prudent discount factors for minority interest, illiquidity, technology and venture capital risk. Astrina’s work advanced its client’s position toward a favorable out-of-court settlement in a highly publicized lawsuit in which alleged damages exceeded $1 billion. This work was performed as a consultant to the Analysis Group Inc.

IP Valuation Wireless Telcom

Astrina valued a pioneer patent in the wireless telecommunications industry. This work included an assessment of both the market and technology as covered by the patent’s claims. Astrina’s research was effectively utilized in the context of damages calculations in a multi-million dollar malpractice lawsuit.