Pickswinners Venture Fund Pickswinners Venture Fund Invested $10 Million Five Years Ago in Years

Pickswinners Venture Fund
Pickswinners Venture Fund invested $10 million five years ago in Robotronics Co. The fund received 6 million shares of convertible preferred stock, each of which can be converted into three shares of common stock. Robotronic is now set to complete an IPO, and its shares are being priced at $40 each. Pickswinners will convert its preferred stock to common at the IPO, and will sell its shares along with Robotronic. The investment banking firm handling the IPO will charge an 8% underwriting fee

-If Pickswinners' common stock position represents 40% of Robotronics equity,how many shares are being offered in the IPO?

A) 15,000,000
B) 18,000,000
C) 25,200,000
D) 45,000,000