BV537 "PIPEline" to Funding: Challenges in Valuing Pipe Transactions

Webinar Description

The strong SPAC and IPO market in 2020-2021 enabled many companies to go public at relatively early stages of development. In the current period, many of these companies have turned to Private Investment in Public Equity (PIPE) financings to raise the capital they need to fund operations. In this interactive session, Amanda Miller will address some of the challenges in valuing these transactions for financial reporting purposes. The session will also include a case study.

Learning Outcomes

Upon webinar completion, the participant will be able to:

• Identify characteristics of PIPE transactions, including advantages and disadvantages;
• Identify types of PIPE transaction structures, typical features, and accounting implications; 
• Identify challenges in valuing these transactions for financial reporting purposes; and 
• Recognize the valuation techniques used to value PIPE securities as illustrated through a case study.

Course Audience

Valuation specialists who may assist companies with valuations for PIPE transactions

Instructor Information

Amanda Miller, PhD. | Ernst & Young

Amanda Miller, PhD is a Managing Director at Ernst & Young, LLP with over 15 years in the industry. She also serves as co-chair of the AICPA "Cheap Stock" task force (revising the guide in 2020) and was co-chair of the AICPA PE/VC task force for the guide that was published in 2019. Her projects focus on assisting clients in understanding fair value issues, and on valuing complex securities such as options, warrants, preferred & common stock, performance awards, convertible notes, debt and related embedded derivatives, loan portfolios and contingent considerations.

Continuing Education

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

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