Complex Securities & Derivatives
Valuation of instruments whose payoffs depend on future events, prices or decisions: warrants, convertible instruments, earnouts and embedded features. We select option-pricing, lattice or Monte Carlo methods based on each instrument's terms, and document every input for audit review.
Warrants and other equity-linked instruments, equity- or liability-classified
Awards and instruments with complex market-based vesting conditions
Convertible notes, SAFEs and preferred stock; debt modifications and extinguishments
Embedded derivatives and bifurcated features
Earnouts and contingent consideration, at the deal date and each remeasurement
SPAC and de-SPAC instruments: warrants, earnout shares, forward purchase and non-redemption agreements
Discuss an engagement
Tell us about the measurement, the standard and the deadline. We scope every engagement on its facts and confirm a fixed fee in writing.
We respond within six hours on business days.