Note for appraisers using Done Deals

Heidi Walker, speaking on BVR's webcast this morning focusing on transaction databases, reminds users that "equity price" on Done Deals doesn't quite mean what most appraisers think it does.  If no debt is assumed, invested capital price equals equity price...so we have to remove debt from our subject company.

Because all of Done Deals transactions come from SEC filings, Heidi recommends that you always go back to the purchase price allocation information to see what assets transferred.