est at an advantaged time in companies' life cycles 14 EFTA00292388 AAn INVESTMENT TIMING AND PRICING 12x 10x 8x dra Capital Andra Fund's Investment Point w 6x —6—Preferred cc —0—Common w cc 4x 2x YEARS 1 2 3 4 5 6 7 8 9 10 The differential in price between the value of common stock