A fictitious VC firm, EBV, that is considering a series A investment in a start-up company named Newco. The terms specify that EBV invests $5 million into Newco for 5M shares, which currently has 10M shares allotted to employees and founders. There are five structures that defines the wealth to VCs ($VC in vertical axis) against the exit value of portfolio firm ($W in horizontal axis).

Draw exit diagram for the following security structure.

A: 5M shares of common.

B: RP + 5M shares of common.

C: PCP with participation as-if 5M shares of common, QPO at $5 per share.

D: PCPC with participation as-if 5M shares of common, with liquidation return capped at four times OPP, QPO at $5 per share.

E: RP ($4M APP) + 5M shares of CP ($1M APP).