Case StudyCompany: NRAD Corporation (NASDAQ: NRAD; “NRAD” or the “Company”)Scenario:Firm X has been approached by an imaginary private equity firm (“PE Firm”) to provide debt financing facilitating thethe fictional buyout of LRAD Corporation (NASDAQ: LRAD) for $140.8 million (a 20% premium to July 8, 2019 marketcapitalization). The PE firm has provided the following sources and uses for the fictitious transaction:Write-Up Requirements: Please prepare a write-up which provides an overview of the Company, transaction summary, merits & issues, and return profile for debt and equity investments. The write-up should adhere to the following parameters: • Be no more than three pages, including charts, graphs, and appendices; • Contain the following sections: o Company Overview, including business model/revenue model/product summary; o Industry Summary; o Competitive Landscape; o Historical Financial Performance; and o Strengths and Risk / Mitigants. • The write-up should recommend whether to invest in the debt (and equity co-investment). If the recommendation is to “decline,” please detail if there is an alternative financing solution Firm X should consider proposing and why. • Supporting the recommendation with analysis (business, credit, equity valuation, return, etc.) is highly encouraged.