Dunkirk Capital proposes to invest $20 million in Lapdog Industries for 6 million shares of Series A Preferred Stock. The founder, Bob Barker, owns 10 million shares of common stock. Benchmark insists that the company issue an Employee Option Pool equivalent to 15% ownership, post-money. (a) Construct a post-money Capitalization Table for Dunkirk Industries for this transaction.

HINT: Start by calculating the Total post-money shares. If the Option Pool represents 15% of the post-money shares, then the Founder and Benchmark together must own the remaining 85% of post-money shares.

Post-Money Capitalization Table

	Shares	$	%
Founder
Employee Option Pool			15.000%
Series A Preferred
Total			100.0000%

(b) What is the post-money valuation?

(c) What is the pre-money valuation?