2026 ASA Complex Securities Conference

More About This Event

ASA Member Price: $249 | Non-Member Price: $349

Thursday, June 4, 2026, Time: 1:00pm ET

Precision Valuation Insights for Today’s Most Complex Capital Structures

The valuation of complex securities continues to evolve as capital structures grow more sophisticated and deal terms become increasingly nuanced. The 2026 ASA Complex Securities Conference brings together experienced practitioners to explore practical valuation approaches, modeling considerations, and real-world applications across a range of complex securities topics.

This year’s virtual conference will feature:

• No-Arbitrage Arguments and the Link Between OPM and Yield Approach – A discussion of how no-arbitrage principles connect the Option Pricing Method and Yield Approach, and the circumstances under which these methodologies can produce consistent results in complex securities valuations.
• Backstop Agreement Valuation – An overview of the key valuation considerations for backstop agreements, including common deal structures, economic rights, and factors that influence value.
• Convertible Note Modelling – A practical look at how convertible notes are modeled, including common structural features, conversion mechanics, and the assumptions typically incorporated into valuation models.
• Demystifying the Debt-like Preferred Plus Upside Method – A closer look at the Debt-like Preferred Plus Upside Method and how it can be used to analyze and allocate value within layered capital structures.

Why Attend?

• Learn from experienced professionals tackling real-world valuation issues
• Stay current on evolving approaches, assumptions, and analytical frameworks
• Explore advanced valuation concepts in a focused, practical setting
• Strengthen your understanding of complex capital structures and security-specific modeling

Designed for valuation professionals, financial advisors, analysts, litigation professionals, and others who work with private company securities and complex capital structures, this conference offers practical insights and technical perspectives to help attendees strengthen their understanding of advanced valuation methods and stay current on issues shaping complex securities valuation.

NASBA and Continuing Professional Education (CPE) Credit

ASA is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.learningmarket.org/.

CPE Credit: Up to 4.5 CPE credits
Program Level: Advanced
NASBA Knowledge Type: Accounting & Auditing, Specialized Knowledge
Delivery Method: Group Live and Group Internet-Based
Prerequisites: None
Advanced Preparation: None
Policies: ASA's Refund and Cancellation Policy and ASA's Complaint Resolution Policy

Conference Chair

Adam Smith, ASA | Valuation Research Corporation

Conference Sponsors

Agenda

1:00 - 1:05pm
Welcome

1:05 - 2:05pm
No-Arbitrage Arguments and the Link Between OPM and Yield Approach
Amir Alerasoul| Managing Director | Valuation Research Corporation
Pablo Alfaro | Senior Vice President | Valuation Research Corporation

2:05 - 3:05pm
Backstop Agreement Valuation
Marina Kagan| Partner | PwC

3:05 - 3:15pm
BREAK

3:15 - 4:15pm
Convertible Note Modelling
Amanda Miller | Managing Director | EY

4:15 - 5:15pm
Demystifying the Debt-like Preferred Plus Upside Method
Oksana Westerbeke | Partner, Valuation | Grant Thornton

*Agenda subject to change.

Upon completion of this course, participants will be able to:

• Analyze how no-arbitrage principles support the relationship between the Option Pricing Method (OPM) and the Yield Approach in complex securities valuation.
• Evaluate key valuation considerations associated with backstop agreements, including common deal structures and economic rights.
• Apply common modeling approaches used in the valuation of convertible notes, including conversion mechanics and structural features.
• Explain the application of the Debt-like Preferred Plus Upside Method in allocating value across layered capital structures.

Group Discounts
A 10% discount off the current, applicable registration fee is available for five or more individuals registering from the same organization. Individuals must be registered as a group to qualify for the discount. For additional details and instructions on how to register, please contact ASA Member Services at +1 800-272-8258 or +1 703-478-2228 or via e-mail at asainfo@appraisers.org.