BV528 Convertible Instruments and Valuation

Webinar Description

A comprehensive course covering multiple classes of convertible instrument. We will include descriptions and valuation considerations for traditional convertible bonds, convertible preferred stock, and convertible bridge notes. In addition, we will discuss some features that give rise to embedded derivatives and how to value these when they arise. We will cater to all levels, starting with a description for those who thought a convertible was just a fancy car to those with experience in advanced financial instruments.

Learning Outcomes

Upon webinar completion, the participant will be able to:

  • Recognize the key features of convertible securities;
  • Identify key features requiring valuation;  
  • Differentiate between multiple types of securities; and  
  • Explain the key features of convertible valuation models.

Webinar Audience

Valuation professionals looking to better understand and be able to deal with these securities

Instructor Information

Josh Schaeffer, PhD. | Equity Methods

Josh Schaeffer is a managing director and practice leader for Equity Methods’ valuation practice. He leads the delivery of valuation and advisory services related to complex securities. Josh takes some of the most complicated financial instruments around and breaks them down so that anyone can understand them. These include a wide array of derivative securities pertaining to compensation agreements, private companies, partnerships, earnouts, and guarantees. Other areas of expertise include business investments and employee compensation awards. Josh is familiar with the approach external auditors take to these instruments, building that knowledge into the solutions he builds for clients and often communicating with auditors on their behalf. Besides complex securities, Josh brings his academic and practical experience in economics, finance, and statistics to a range of other challenges, such as pay equity and CEO pay ratio calculations.  He enjoys solving unique problems and mentors employees who share this aptitude. Josh works closely with finance executives across a broad array of public and private firms. His clients range from early-stage, pre-IPO upstarts to some of the largest public companies in the world. He’s a frequent presenter for the National Association of Stock Plan Professionals, the American Society of Appraisers, and other industry organizations.

Gavin Hagfors | Equity Methods 

Gavin Hagfors is a Senior Consultant on the Valuation and HR Advisory Services team with Equity Methods, where he leads and provides support in the valuation of complex securities such as warrants, contingent considerations, convertible securities, awards involving complex financial structures, and interest rate-related derivative securities, along with various equity compensation instruments for ASC 718 compliance. He also assists with various data-based analyses relating to pay equity and forecasting outcomes using time series data. Prior to his role at Equity Methods, Gavin worked at 284 Partners, an Ann Arbor, Mich., consultancy firm focused on valuing and licensing intellectual property. Gavin earned his Master of Applied Economics degree, with a major in Finance, from the University of Michigan. He also attended the University of Montana, where attained Bachelor of Science degrees in Finance and Economics, was a Presidential Leadership Scholar through the Davidson Honors College, and was a member of the Big Sky Conference All-Academic team.

Continuing Education

Review of this session recording will award 2 CE hour(s). 

CPE credit is not awarded for this pre-recorded offering.


Convertible Instruments and Valuation
Open to view video.
Open to view video.
Webinar Course Certificate
2.40 CE credits  |  Certificate available
2.40 CE credits  |  Certificate available Open certificate for the option to print.