News & Articles | Houlihan Capital

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…

Preparing for a Sale: What to Expect from a Sell-Side Advisor

28

Apr

Financial Advisory, Valuation

Preparing for a Sale: What to Expect from a Sell-Side Advisor

Framing the Decision to Sell For many founder-owned businesses, a sale represents one of the most significant financial and strategic decisions an owner will make. It is often the culmination of years, if not decades, of effort, risk-taking, and reinvestment. Despite its importance, most founders go through the process only once. Unlike…

Cannabis Rescheduling Is Here. What It Means for Business Valuations.

27

Apr

Cannabis, Valuation

Cannabis Rescheduling Is Here. What It Means for Business Valuations.

On April 22, 2026, the Acting Attorney General issued a final order reclassifying FDA-approved marijuana products and state-licensed medical marijuana from Schedule I to Schedule III under the Controlled Substances Act. A formal DEA hearing on broader cannabis rescheduling is scheduled to begin June 29, 2026. This is the most…

409A Valuations: Strategic Considerations for Private Company Equity Compensation

24

Apr

Valuation

409A Valuations: Strategic Considerations for Private Company Equity Compensation

The Growing Importance of Equity Compensation Discipline For many private companies, 409A valuations are treated as a compliance requirement, completed to support option grants and satisfy regulatory expectations. However, when the process is approached as a periodic checkbox rather than a strategic input, it can introduce avoidable friction across the…

Portfolio Valuation Under ASC 820: A Practical Framework for Fund Managers

23

Apr

101 Guides, Valuation

Portfolio Valuation Under ASC 820: A Practical Framework for Fund Managers