Problem 1In July 2017, the startup company ABC raised $1 million ($1,000,000) angel funding from investor Brad. Company ABC’s sole founder and CEO, Greg, offered Brad the “same kind of stock that I own – common stock.” Brad was happy to receive common stock and a $9 million ($9,000,000) pre-money valuation for his investment. What percentage of the company ABC did Brad own in July 2017 immediately after his angel investment?Problem 2The Snap Inc., went public (IPO) on March 2rd, 2017. The chart below was based on its SEC Form 424B4 filing. Read the chart and answer questions: IPO Status Priced Symbol SNAP Exchange NYSE Price to Public $17.00 Underwriting Discounts and Commission $0.425 Proceeds to Snap Inc. $16.575 Proceeds to Selling Stockholders $16.575 Class A common stock offered by Snap Inc. 145,000,000 shares Class A common stock offered by the selling stockholders 55,000,000 shares1. What’s the total number of shares offered to public in the initial public offering?2. What’s the total dollar amount that Snap has raised in the initial public offering?3. What’s the total costs of underwriting discounts and commission?4. In the initial public offering, how much was proceeds to Snap Inc. after considering all underwriting discounts and commission?5. In the initial public offering, how much was proceeds to the selling stockholders after considering all underwriting discounts and commission?
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