Mary is the founder and chief executive officer of an online retail business, Pinder Co. She started the firm with $10,000 of her capital. One year after the founding, Mary convinced Susan, whom she met at a local start-up conference, to invest in her firm. After some negotiation, Susan decided to invest $500,000,at a post-money valuation of $2.5 million.// Mary used the funds from Susan to hire some employees who would help her create a mobile app for Pinder's online retail business. With Susan's help, Mary was able to secure a series A funding from the venture capital firm Pioneer Partners. Pioneer agreed to a $20,, million investment at a $160,million post-money valuation. Using the funds from Pioneer Partners, Pinder was able to continue growing its business. After some years of growth, Mary decided that it was time to take Pinder public through an initial public offering. Through the IPO, Mary decided to sell 50% of her holdings to the IPO subscribers. At the time of the IPO, Pinder Co had 20 million shares outstanding, In the IPO, Pinder would issue 5 million, new shares, along with the sale of 50% of Mary's ownership. The subscription price was $15 per share. The IPO underpricing was 40%, based on the closing price of the first day of trading. The share price for Pinder Co remained identical at that closing price for five more days. If Mary had sold on the second day of trading instead of through the IPO, how much more money could she have made?

Mary is the founder and chief executive officer of an online retail business, Pinder Co. She started the firm with $10,000, of her capital. (One year after the founding, Mary convinced Susan, whom she met at a local start-up conference, to invest in her firm. After some negotiation, Susan decided to invest $500,000, at a post-money valuation of $2.5 million., Mary Jused the funds from Susan to hire some employees/who would help her create a mobile app for Pinder's online retail business. With Susan's help, Mary was able to secure a series A funding from the venture capital firm Pioneer Partners. Pioneer agreed to a $20, million investment at a $160, million post-money yaluation. Using the/funds from Pioneer Partners.) Pinder was able to continue growing its business. After some years of growth, Mary decided that it was time to take Pinder public through an initial public offering. Through the IPO, Mary decided to sell 50% of her holdings to the IPO subscribers. At the time of the IPO, Pinder Co had 20 million shares outstanding, In the IPO, Pinder would issue 5 million new shares, along with the sale of 50% of Mary's ownership. The subscription price was $15 per, share. The IPO underpricing was 40%, based on the closing price of the first day of trading. The share price for Pinder Co remained identical at that closing price for five more days. If Mary had sold on the second day of trading instead of through the IPO, how much more money could she have made