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One year ago, Vegemite Ventures LP invested $8 million into Toast Technologies Inc, a private company, representing 10% of its equity ownership, with the
One year ago, Vegemite Ventures LP invested $8 million into Toast Technologies Inc, a private company, representing 10% of its equity ownership, with the other 90% belonging to Toast Tech's founder. The ownership of Vegemite Ventures LP is in the form of convertible preference shares. Now, Cheese Enterprises Inc offers to acquire Toast Tech at the value of $13.0 million. Assuming that the founder has absolute control and decides to sell off Toast Tech. How much of the proceeds does the founder receive? Please answer in millions of dollars to 2 decimal places (i.e. an answer of $1,250,000 should be entered as 1.25) How much of the proceeds does Vegemite Ventures receive? Please answer in millions of dollars to 2 decimal places (i.e. an answer of $1,250,000 should be entered as 1.25) Next page
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