FASB Reconsiders Contractual Sale Restrictions (ASU 2022-03): What the Proposal Means for Locked Token Valuations
15
Jul
Cryptoassets, Valuation, Whitepapers

FASB Reconsiders Contractual Sale Restrictions (ASU 2022-03): What the Proposal Means for Locked Token Valuations

The July 2026 proposal reinforces a market-participant approach that Houlihan Capital has applied to cryptoasset portfolios for years  Executive Takeaway  In 2022, the FASB issued ASU 2022-03, concluding that a contractual restriction on the sale of an equity security should not reduce fair value when the restriction is viewed as a characteristic…
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Fairness Opinions in de-SPAC Transactions
13
May
Fairness Opinions, Whitepapers

Fairness Opinions in de-SPAC Transactions

The Role of a Fairness Opinion in a de-SPAC Transaction  When a SPAC enters into a business combination agreement, its board is evaluating a transaction that will define the future of the vehicle. The decision is often made within a compressed timeframe, subject to a finite investment window, sponsor economics, and public shareholder rights.  In…
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A Modern Guide to Purchase Price Allocation
25
Feb
101 Guides, Valuation, Whitepapers

A Modern Guide to Purchase Price Allocation

Introduction  Purchase Price Allocation (“PPA”) has evolved from a compliance exercise to a strategic financial reporting decision. Recent SEC comment letter trends, paired with heightened IRS scrutiny of IRC Section 197 classifications, mean that methodology choices made at acquisition can influence financial outcomes years into the future. Understanding these implications helps companies avoid costly…
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Interval Funds: Understanding Their Structure and the Drivers of Rapid Growth
19
Jan
Valuation, Whitepapers

Interval Funds: Understanding Their Structure and the Drivers of Rapid Growth

Introduction  At a recent industry conference, questions from fund managers and advisors highlighted both the growing interest in interval funds and the confusion surrounding their structure, liquidity mechanisms, and valuation requirements. These conversations underscored how rapidly interval funds have evolved from a niche investment structure into one of the fastest-growing…
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