Independent 409A Valuation · As of December 31, 2025
Black Unicorn Factory, Inc.
valued at $22.6 billion
Transaction Capital LLC concluded a fair market value of $292 per common share on a minority, non-marketable basis.
$292
FMV per common share
$22.6B
Post-discount equity value
$37.7B
Pre-discount equity value
77.4M
Common shares outstanding
About the Company
A pre-IPO accelerator and equity crowdsourcing platform
Black Unicorn Factory is an Arizona corporation supporting emerging companies through strategic advisory, commercialization support, licensing, capital access, and network deployment services across the FanVestor ecosystem.
FY2025 Audited Financials
- Total Assets
- $7.011B
- Stockholders' Equity
- $7.011B
- Operating Revenue
- $1.100B
- Net Income
- $6.461B
Audited by Elizabeth Atchison, CPA — unmodified opinion.
Methodology
Three approaches, weighted
Discounted Cash Flow$43.683B · 50% weight
Guideline Public Company$34.418B · 45% weight
Adjusted Net Asset Value$7.011B · 5% weight
Valuation Conclusion
From enterprise to per-share value
- Fair Market Value (Pre-DLOM)
- $37.680B
- Less: Discount for Lack of Marketability
- 40.0%
- Fair Market Value (Post-DLOM)
- $22.608B
- Common Shares Outstanding
- 77,368,436
- Fair Market Value per Common Share
- $292
“It is our opinion that the Fair Market Value of the Common Stock of Black Unicorn Factory, Inc. is USD 292 per Common Share, on a minority, non-marketable basis, as of December 31, 2025.”