Question
A company has a post-money capitalization table with the securities listed in the increasing order of preference. Each share is entitled to one vote, and
A company has a post-money capitalization table with the securities listed in the increasing order of preference. Each share is entitled to one vote, and each participating preferred share participates with each common share on a one-to-one basis. The founders own 2,137,000 common shares with a nil cost per share. Angel Investors own 2,616,180 common shares with a cost of $0.5 per share. Series A Preferred has 1,069,390 participating preferred shares with a cost of $3.2 per share. Finally, Series B Preferred, with the highest preference, has 534,150 participating preferred shares with a cost of $10.6 per share. The Series B Preferred investment is the latest round of investment. Just before the latest investment, how much of the company did the Angel Investors control?
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