When Linking Post IPO Return Data with Pre-IPO Marketability Discount Data Should Initial Public Offering (IPO) Discounts be Considered When Estimating Value at the Shareholder Level?

R. Gary Saliba is a principal of Pretium Capital Group, Inc., based in Huntsville, Alabama. Pretium Capital Group, Inc. specialized in valuing closely held equity securities, and providing middle-market investment banking services. Mr. Saliba, who also serves as a principal in Saliba Financial Economics Group, holds an MBA in Finance and is a Chartered Financial Analyst, Certified Financial Planner, and Enrolled Agent.

Jason K. Chung is a principal of Pretium Capital Group, Inc. Formerly, Mr. Chung worked for Prudential Securities and Cowen & Co. as an institutional equity derivative trader/salesment in New York Mr. Chung holds an MBA from Wake Forest University and a BA from Vanderbilt University.