medium · Private Equity
A PE-backed company has an IPO realization. The sponsor owns 10M shares. In the IPO, the sponsor sells 2M shares at 20.00 each. The remaining 8M shares are subject to a 180-day lockup.
If the share price drops to 15.00 by the time the lockup expires and the sponsor sells the rest, what are the total proceeds?
- $200M
- $160M
- $180M
- $150M
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