Early Stage Valuation : A Fair Value Perspective.

Intro -- Table of Contents -- Acknowledgments -- About the Author -- About the Contributors -- Preface -- Introduction -- PART ONE: Early Stage Valuation in Context -- CHAPTER 1: Early Stage Enterprises and the Venture Capital Market -- CHARACTERISTICS OF EARLY STAGE ENTERPRISES -- THE VENTURE CAPITAL MARKET -- EXIT STRATEGY -- CONCLUSION -- NOTES -- CHAPTER 2: Fair Value Standard -- HISTORICAL NOTES ON THE FAIR VALUE STANDARD -- THE FAIR VALUE STANDARD UNDER CURRENT U.S. GAAP -- FAIR VALUE AND OTHER STANDARDS OF VALUE -- GUIDANCE ON THE FAIR VALUE STANDARD IN ESE VALUATION -- CONCLUSION -- NOTES -- CHAPTER 3: Capital Structure -- COMMON STOCK -- PREFERRED STOCK -- OPTIONS AND OPTION-LIKE INSTRUMENTS -- WARRANTS -- OTHER HYBRID INSTRUMENTS -- CONCLUSION -- NOTES -- PART TWO: Enterprise Valuation -- CHAPTER 4: Seed Stage Valuation and the Venture Capital Method -- ANGEL INVESTORS AND THE MARKET FOR SEED INVESTING -- SEED VALUATION: THE SCORECARD APPROACH -- VENTURE CAPITAL METHOD -- THE FIRST CHICAGO METHOD -- CONCLUSION -- NOTES -- CHAPTER 5: The Backsolve Method -- THE OPM BACKSOLVE METHOD: A CASE STUDY -- SECONDARY MARKET TRANSACTIONS -- ESTIMATING OPM VOLATILITY -- CONCLUSION -- NOTES -- CHAPTER 6: Discounted Cash Flow Method -- DEVELOPING A DCF MODEL IN A SURVIVAL SCENARIO -- STEP 5: ADJUSTMENTS -- THE INVESTOR PERSPECTIVE: RECONCILING DCF RESULTS WITH THE VENTURE CAPITAL METHOD -- DCF MODEL AND CALIBRATION -- CONCLUSION -- NOTES -- CHAPTER 7: Asset Accumulation Method -- OVERVIEW OF THE ASSET-BASED APPROACH -- THE ASSET ACCUMULATION METHOD: A CASE STUDY -- IN-PROCESS RESEARCH AND DEVELOPMENT -- PUTTING IT ALL TOGETHER -- CONCLUSION -- NOTES -- CHAPTER 8: Non-GAAP Metrics in ESE Valuation -- NON-GAAP FINANCIAL MEASURES -- OTHER METRICS -- CONCLUSIONS -- NOTES -- PART THREE: Valuation of Financial Instruments.

CHAPTER 9: Allocation of Enterprise Value -- SCENARIO-BASED METHODS -- CURRENT VALUE METHOD -- CONCLUSION -- NOTES -- CHAPTER 10: Valuation of Options and Warrants -- GENERAL PRINCIPLES OF OPTION VALUATION -- VALUATION OF OPTIONS IN A COMPLEX CAPITAL STRUCTURE -- VALUATION OF OPTIONS AS STAND-ALONE INSTRUMENTS: THE BSM MODEL -- VALUATION OF OPTIONS AS STAND-ALONE INSTRUMENTS: THE BINOMIAL LATTICE MODEL -- VALUATION OF WARRANTS -- CONCLUSION -- NOTES -- CHAPTER 11: Valuation of Debt Securities -- GENERAL PRINCIPLES OF DEBT VALUATION -- VALUATION OF CONVERTIBLE NOTES: DECOMPOSITION AND YIELD METHOD -- VALUATION OF CONVERTIBLE NOTES: CALIBRATION WITH THE YIELD METHOD -- VALUATION OF CONVERTIBLE NOTES: THE OPTION PRICING METHOD -- VALUATION OF CONVERTIBLE NOTES: CALIBRATION WITH THE OPM BACKSOLVE -- VALUATION OF CONVERTIBLE NOTES: BINOMIAL LATTICE MODEL -- VALUATION OF BRIDGE NOTES: "AS IF CONVERTED" METHOD -- VALUATION OF BRIDGE NOTES WITH WARRANTS -- VALUATION USING BROKER QUOTES -- VALUATION OF DEBT FOR THE PURPOSE OF VALUING EQUITY -- CONCLUSION -- NOTES -- CHAPTER 12: Valuation of Contingent Consideration -- TYPES OF EARNOUTS -- EARNOUT VALUATION -- CASE STUDIES -- CONCLUSION -- NOTES -- References -- STANDARDS -- INDUSTRY GUIDANCE -- INDUSTRY REPORTS -- U.S. SECURITIES AND EXCHANGE COMMISSION FILINGS -- BOOKS, ARTICLES, AND WEBINAR TRANSCRIPTS -- Index -- End User License Agreement.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.