PIPE Securities

Private Investments in Public Equity (PIPEs) are becoming an increasingly popular funding vehicle for many companies, spanning from blue chip to micro-cap.  But PIPE securities are restricted and cannot be valued based solely on the issuer’s trading price in the market.  Theoretical models alone, such as Black-Scholes, are also insufficient.

While we can provide valuations of PIPE securities for any purpose, the most common uses of our services include helping:

• PIPE funds and other hedge funds that need their portfolios valued
• Public companies that need warrants valued so they can determine the Original Issue Discount for a convertible debt issue
• Companies that need fairness or solvency opinions for pending transactions

Because of its proprietary LiquiStat™ database of secondary market deals in PIPE securities, as well as its close affiliation with the professionals at SecondMarket, Pluris has become the valuation firm of choice for those who invest in or issue PIPEs.

Within the PIPE space, and in the related markets for Reverse Mergers or Special Purpose Acquisition Companies (SPACs), Pluris values the following securities:

• Restricted Stock
• Warrants
• Convertible Notes
• Convertible Preferred Shares
• Units of Convertibles and Warrants
• Unit Purchase Options issued by SPACs

For more information on our PIPE security valuations, contact Pluris today.