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1DatalalWeitall•NOtilliat. att. W {wadi Mew.,a elwwwouanawlIwunle) Ob. 'OA...1 heti ifkitirenaellf MSS Ufa,. Cs• Orin WA. Na Whit Sow: 10 Cam LISS Untownwie WWI HAW forainwaYawlw. WWI ILLS Conwn(Ts. NO. sup Cocumwona NO. 2I.UI Leal. LIM Steal. We Sat. IA RAM. ',DWI sem: WWI?, (UM Uentwwwwillen
tions from 1991 through 1995. The overall average discount for the study was 20.0%. 25 From FMV Restricted Stock Study. 26 From Michael Henze] and Richard L. Smith, "Market Discounts and Shareholder Gains for Placing Equity Privately," The Journal of Finance, June 1993, PP- 459-485. 27 From Bruce Johnson, "Res
1DatalalWeitall•NOtilliat. att. W {wadi Mew.,a elwwwouanawlIwunle) Ob. 'OA...1 heti ifkitirenaellf MSS Ufa,. Cs• Orin WA. Na Whit Sow: 10 Cam LISS Untownwie WWI HAW forainwaYawlw. WWI ILLS Conwn(Ts. NO. sup Cocumwona NO. 2I.UI Leal. LIM Steal. We Sat. IA RAM. ',DWI sem: WWI?, (UM Uentwwwwillen
tions from 1991 through 1995. The overall average discount for the study was 20.0%. 25 From FMV Restricted Stock Study. 26 From Michael Henze] and Richard L. Smith, "Market Discounts and Shareholder Gains for Placing Equity Privately," The Journal of Finance, June 1993, PP- 459-485. 27 From Bruce Johnson, "Res
1DatalalWeitall•NOtilliat. att. W {wadi Mew.,a elwwwouanawlIwunle) Ob. 'OA...1 heti ifkitirenaellf MSS Ufa,. Cs• Orin WA. Na Whit Sow: 10 Cam LISS Untownwie WWI HAW forainwaYawlw. WWI ILLS Conwn(Ts. NO. sup Cocumwona NO. 2I.UI Leal. LIM Steal. We Sat. IA RAM. ',DWI sem: WWI?, (UM Uentwwwwillen
tions from 1991 through 1995. The overall average discount for the study was 20.0%. 25 From FMV Restricted Stock Study. 26 From Michael Henze] and Richard L. Smith, "Market Discounts and Shareholder Gains for Placing Equity Privately," The Journal of Finance, June 1993, PP- 459-485. 27 From Bruce Johnson, "Res
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