{"id":1335,"date":"2022-02-02T12:42:18","date_gmt":"2022-02-02T20:42:18","guid":{"rendered":"https:\/\/www-staging.carta.com\/events\/?post_type=mec-events&#038;p=1335"},"modified":"2023-05-26T15:49:44","modified_gmt":"2023-05-26T22:49:44","slug":"cartas-2021-liquidity-report-a-cornerstone-year-in-review","status":"publish","type":"mec-events","link":"https:\/\/www-staging.carta.com\/events\/how-secondaries-impact-409a-valuations\/","title":{"rendered":"How Secondaries Impact 409A Valuations"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">As noted in <a href=\"https:\/\/carta.com\/blog\/the-2021-carta-liquidity-report\/\" target=\"_blank\" rel=\"noopener\">Carta\u2019s Liquidity in 2021<\/a> report, the movement toward private market liquidity rose sharply against a backdrop of high U.S. venture capital activity. This trend resulted in Carta executing 129 secondary liquidity events in 2021 &#8211; a 4x growth in transactions YoY! And with that momentum, we received an influx in questions around how secondary liquidity events impact a company\u2019s <a href=\"https:\/\/carta.com\/private-companies\/409a-valuations\/\" target=\"_blank\" rel=\"noopener\">409A valuation<\/a>. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Join us on March 3, 2022, 2:00pm EST \/ 11:00am PST to hear Jason Raziano, Head of Origination at <\/span><a href=\"https:\/\/carta.com\/private-companies\/liquidity\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Carta Liquidity<\/span><\/a><span style=\"font-weight: 400;\">, and Chad Willbur, Vice President of Valuation Services at Carta, discuss the basics of secondary liquidity events and 409A valuations and then answer these commonly asked questions and more:\u00a0\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Why do secondary liquidity transactions count as a material event?\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How do secondaries impact a private company\u2019s 409A filing?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How many secondary liquidity events can occur before there\u2019s a material impact to my 409A?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A brief Q&amp;A session will follow.\u00a0<\/span><\/p>\n<p><span style=\"text-decoration: underline;\"><i><span style=\"font-weight: 400;\">About Carta Liquidity\u2019s 2022 Fireside Chat Series:<\/span><\/i><\/span><\/p>\n<p><span style=\"font-weight: 400;\">Carta Liquidity\u2019s Fireside Chat Series is an educational series focused on highlighting the thought leadership and market insights of the Carta Liquidity team. Each 30-minute live session will touch on hot topics impacting companies, investors and employees within the private market space, followed by a Q&amp;A session. <\/span><\/p>\n<p><span style=\"font-weight: 400; font-size: 9px;\">\u00a9 Carta Capital Markets LLC (\u201cCCMX\u201d) | Brokerage products and services offered by CCMX | All Rights Reserved | CCMX is an SEC registered broker-dealer and member of FINRA\/<a href=\"https:\/\/www.sipc.org\/\" target=\"_blank\" rel=\"noopener\">SIPC<\/a>, and is the operator of an Alternative Trading System (ATS) &#8211; Carta <span style=\"font-weight: 400;\">Liquidity<\/span> &#8211; which facilitates the trading of the unregistered equity securities of private non-reporting issuers | CCMX is not a bank | Carta <span style=\"font-weight: 400;\">Liquidity<\/span> is not a registered stock exchange | CCMX undertakes no obligation to update content herein | No business, investment, tax or legal advice is provided by CCMX | Potential investors are advised to conduct their own due diligence and consult with their tax, legal, and financial advisors with respect to any investment | All securities involve risk and may result in partial or total loss | Data and statistics provided herein may include data amalgamated between transactions facilitated by CCMX, and those facilitated by its affiliates There is no guarantee that a private company will conduct an initial public offering or provide an alternative exit strategy for your invested capital | Images are illustrative and may differ from application experience | See more important disclosures <a href=\"https:\/\/carta.com\/private-companies\/liquidity\/documents\/\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As noted in Carta\u2019s Liquidity in 2021 report, the movement toward private market liquidity rose sharply against a backdrop of high U.S. venture capital activity. This trend resulted in Carta executing 129 secondary liquidity events in 2021 &#8211; a 4x growth in transactions YoY! And with that momentum, we received an influx in questions around [&hellip;]<\/p>\n","protected":false},"author":101,"featured_media":1962,"comment_status":"closed","ping_status":"closed","template":"","tags":[],"mec_category":[9],"mec_speaker":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www-staging.carta.com\/events\/wp-json\/wp\/v2\/mec-events\/1335"}],"collection":[{"href":"https:\/\/www-staging.carta.com\/events\/wp-json\/wp\/v2\/mec-events"}],"about":[{"href":"https:\/\/www-staging.carta.com\/events\/wp-json\/wp\/v2\/types\/mec-events"}],"author":[{"embeddable":true,"href":"https:\/\/www-staging.carta.com\/events\/wp-json\/wp\/v2\/users\/101"}],"replies":[{"embeddable":true,"href":"https:\/\/www-staging.carta.com\/events\/wp-json\/wp\/v2\/comments?post=1335"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www-staging.carta.com\/events\/wp-json\/wp\/v2\/media\/1962"}],"wp:attachment":[{"href":"https:\/\/www-staging.carta.com\/events\/wp-json\/wp\/v2\/media?parent=1335"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www-staging.carta.com\/events\/wp-json\/wp\/v2\/tags?post=1335"},{"taxonomy":"mec_category","embeddable":true,"href":"https:\/\/www-staging.carta.com\/events\/wp-json\/wp\/v2\/mec_category?post=1335"},{"taxonomy":"mec_speaker","embeddable":true,"href":"https:\/\/www-staging.carta.com\/events\/wp-json\/wp\/v2\/mec_speaker?post=1335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}