Question
Four years ago,your VC company invested $2.5 million into JBS Corporation in return for a 9%stake in the business. This stake was given to you
Four years ago,your VC company invested $2.5 million into JBS Corporation in return for a 9%stake in the business. This stake was given to you inshares of convertible preferred stock. Now the company is ready to be sold (exit)for $61.3million.
Find the payoff you will get from your convertible preferred stock.Round your answer to 2 decimal places, for example 5.12.
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Intermediate Financial Management
Authors: Eugene F. Brigham, Phillip R. Daves
11th edition
978-1111530266
