Confidential — produced subject to protective order
From: D. Whitfield <whitfield@halcyonbio.com>
Sent: 2025-01-01 09:14 · Subject: RE: Q3 supplier pricing (1)
Following our call, the revised margin model assumes the supplier concession lands before quarter close. I have attached the working spreadsheet and flagged the two cells that drive the sensitivity analysis.
Please keep this within the deal team — outside counsel has asked that we route any regulator-facing summary through them first so privilege is preserved.
If the concession slips, the fallback is a 90-day pricing bridge, which we modelled at a 1.8% blended margin impact. I would rather not commit to that in writing yet.