Free Webinars
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| Pluris DLOM Valuation Advisors |
CPE Credit
Program Type: Recorded Webinar (Audio, PPT Presentation)
Program Level: Advanced
Prerequisites: Good knowledge of topic and experience in the field.
Advanced Preparation: None
Delivery Method: Group Internet-Based
CPE Credits: None
Fields of Study: N/A
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Item
Number: 14PDS0829F
Shipping Weight: 0lbs. 0oz. |
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$0.00 |
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Program Description
When valuing a closely held business, an appraiser typically applies a discount for lack of marketability (DLOM). The Pluris DLOM Database™ provides a source of data from restricted stock transactions available to the valuation profession for estimating this discount. State and federal courts are increasingly favoring discounts for lack of marketability that:
Are developed from restricted stock transaction data
Are based on companies like the subject company
Use recent transactions for comparison
Use more data rather than just a set of "averages."
Learning Objectives
After completing this webinar, attendees will be able to:
- Cite how restricted stock data can provide a more suitable discount rate for your valuation
- Differentiate between high-dividend and low-dividend situations
Who Should Attend
Appraisers, CPAs, and attorneys
Presenter
Espen Robak, CFA
Mr. Espen Robak is president and founder of Pluris Valuation Advisors, LLC, and a nationally recognized expert on intellectual property securities design, levels of value, and discounts for lack of liquidity. Pluris' practice includes portfolio valuations for investment funds and financial institutions as well as a broad range of financial reporting and tax opinions for public and private companies. Mr. Robak is a frequent contributor to books and professional journals on valuation, accounting, and taxation topics, and his commentary has been quoted in the Wall Street Journal, Financial Times, The New York Times, American Banker, Bloomberg, Absolute Return, and Accredited Investor, among others. He is a columnist for Wealth Strategies Journal.
Mr. Robak's career has been focused on the valuation of, and research on, hard-to-value, illiquid, and distressed securities, primarily structured finance, including auction-rate securities; restricted stock, warrants, convertible debentures, SPAC securities, and equity-swap transactions. Mr. Robak has provided valuation services for portfolio valuation, stock-based compensation and other financial reporting purposes, transaction fairness, estate and gift tax, corporate and personal income tax, employee stock ownership plans, litigation support, and other purposes. Mr. Robak's business valuation experience also encompasses intangible assets and intellectual property valuations, assignments involving the allocation of value between several classes of stock, and the valuation of derivative and hybrid securities.
Prior to forming Pluris, Mr. Robak was senior vice president of FMV Opinions, a business valuation firm, and directed the firm's restricted stock and blockage discount practices. Mr. Robak authored several publications on private placements, restricted stock, and marketability discounts, and created The FMV Restricted Stock Study, a widely used database of private placement transactions. Mr. Robak has earned the Chartered Financial Analyst designation and has a masters in business administration and a bachelor of science degree from the University of Oregon. |
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