📄 Extracted Text (172 words)
ILLUSTRATIVE RETURNS
APPROXIMATE ONLY
Assumes No Investment into Series 8 Assumes Investment Required for Exchange to Series 8 ($833K)
Exit Before April 28, 2016 @ Valuations of Exit Before April 28, 2016 @ Valuations of
$1,000,000,000 $2,000,000,000 $3,000,000,000 $5,000,000,000 $1,000,000,000 $2,000,000,000 $3,000,000,000 $5,000,000,000
$0 $5,000,000 $5.000.000 $7.876,728 $495,493 $7,500,000 $7,500,000 $10,365,934
Exit After April 28, 2016 @ Valuations of Exit After April 28, 2016 @ Valuations of
$1,000,000,000 $2,000,000,000 $3,000,000,000 $5,000,000,000 $1,000,000,000 $2,000,000,000 $3,000,000,000 $5,000,000,000
$0 $5,000,000 $5,000,000 $8,373,405 $7,500,000 $7,500,000 $7,500,000 $11,019.572
For $833K investment (amount needed for full exchange to Series 8), Mort receives 219K additional shares &
$2.5M of additional liquidation preference
Note: Assumes all other investors into Series 8 decided to do full exchange to Series 8
3.0x liquidation preference on convertible Notes expires one year after original investment (on 04/28/2016) and becomes 7.0x liquidation preference thereafter
At $78N & .82BN assumes all investors in Series 8 exchange to Series 8. At $38N & SSBN valuation, assumes Sequoia. KhoSla & Mayfield do not exchange to Series 8
EFTA00639363
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EFTA00639363
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