Investor Date Feb. 2013 You Round Series A Series B Series C Shares 700,000 1,200,000 2,300,000 Share Price ($) 1.50 2.50 3.50 Sept. 2015 Venture Capital It is now 2016 and you need to raise additional capital to expand your business. You have decided to take your firm public through an IPO. You would like to issue an additional 6.0 million new shares through this IPO. Assuming that your firm successfully completes its IPO, you forecast that 2016 net income will be $8.0 million. a. Your investment banker advises you that the prices of other recent IPOs have been set such that the P/E ratios based on 2016 forecasted earnings average 18.9. Assuming that your IPO is set at a price that implies a similar multiple, what will be your IPO price per share? b. What percent of the firm will you own after the IPO