Question 2:

1. Select from: Positive; Some positive some negative; Negative
2. Blank 1: Select from: Above ideal graph return values; Below ideal graph return values; Some above/ below ideal graph return values Blank 2: Select from: Changes; Does not change.
3. Select from: $50M; $65M; $80M

Climeworks is a developer of a carbon removal technology designed to capture carbon dioxide from the air. The company's technology is fully automated and controlled via a touchscreen display that is suitable for autonomous operation, and the air-captured carbon dioxide can either be recycled and used as a raw material or can be completely removed from the air by safely storing it, enabling clients to develop a more sustainable environment. You will need access to Pitchbook (Kresge Library, A-Z Databases) and the Capitalization Table Spreadsheets (on Canvas) we used in class to answer these questions. Question 1. The company, located in Switzerland, has received and its first pre-money valuation was of equity rounds, The company had (a) investment round(s). Based on what we know about the capitalization tables (excel sheets), this (these) round(s) likely result in (You don't need to calculate the last question; it should be clear from Pitchbook Take the pre- and post money valuations, share price information, and dates of investment, and import this in your simple cap table spreadsheet. Only use the first five rounds (up to series C). Now keep the same share price value at the day before exit that we have in the C round. By changing values in cell G8 answer the following questions: Let's assume the following: 1. The day before exit (pre-IPO) value is the same as the last post-money valuation in the C round (\$47.37M). All investor returns are . The founders retain 2. The preIPO value is $100M. Investor IRRs are rcentage relative to the previous day before exit value. 3. What is the lowest at which the last investor receives at least 20\% IRR? Note: You should have the idealized IRR plot handy