al World also participated via a $200 million PIPE In February 2016, Deutsche Bank acted as the lead left bookrunner on Silver Run's $500mm IPO Illustrative PF Valuation PF snares (mm) $184 Total equity value 51.835 PF nut dobl (5100) Pro-forma Firm Value 51.735 Firm Value / AdJ. EBITDAX FV r 2017E Adi EBITD