Gust Equity Management has created partnerships with some of the leading valuation firms, who offer exclusive pricing to our customers.

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The valuation process

In order to initiate a valuation request, you'll need to gather the required data and documents (listed below) within your account.

  1. Navigate to Ownership > Valuations, and select the green Request Valuation button in the upper right. This will reveal the submission form, along with the price based on the number of preferred classes within your company.
  2. Complete the required information, check the confirmation box to agree to the terms of the compliance process and the listed subscription price and initial charge, and submit. The card on file will immediately be charged and the work will begin.
  3. Within 1 business day, you'll receive an email introduction from your assigned analyst team.
  4. The analyst team will be granted read-only access to your account, where they'll review your cap table and provided documents. If there's anything missing, or clarification required, they'll provide a list to be completed. If everything is in order, you'll have the opportunity to have a call with the team to ask questions or discuss the process.
  5. There is a guaranteed 10 business day turnaround from the day your analyst team confirms the data & documents are in order. At the end of 10 business days, draft exhibits will be presented for your review where you can ask questions and propose adjustments to the draft.
  6. Once you've signed-off on the valuation report, a final certified 409a valuation report will be delivered.

Data and documents for valuation

The following list will be presented to you for completion:

  1. The date the most recent equity financing round was completed
  2. Your desired valuation date
  3. The company's certificate of incorporation, as amended and restated
  4. The balance sheet as of the desired valuation date
  5. Historical financial statements 
  6. An up-to-date cap table built within Gust Equity Management
  7. Confirmation that stock option details are up-to-date, and your best estimate of options to be issued during the next twelve months
  8. Term sheets or a summary of existing debt outstanding
  9. Your most recent company pitch deck, business plan or executive summary to provide context to your business and industry
  10. An overview of your industry and a list of competitors
  11. Estimate of the most probable exit timing
  12. Your legal counsel's contact name and firm (optional)
  13. Your audit firm and contact information (optional, if applicable)

And if the valuation date is greater than 90 days from your most recent financing round:

  1. Trailing-Twelve-Month ("TTM") income statement, and TTM statement of cash flows, as of the requested valuation date
  2. Base case financial projections for the next 5 years