What are the terms in valuation?

How does the 409a valuation compare to the actual valuation in terms of capital raising?

  • Answer:

    The value indicated in your 409A valuation is likely lower than the value indicated in a financing, especially if the financing involved a preferred or note (with cap). It's because the 409A valuation distinguishes the differences between Common vs Preferred (note), which often is not the case when the term "pre-money" or "post-money" were mentioned during the actual financing. But both the investor and the owner should know that if the Preferred shareholders have more liquidation rights, participation rights, etc, it will all be dilutive to Common.

Il Hong Yoo at Quora Visit the source

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