TP Corp Inc. was founded by four friends, who each purchased 50,000 shares of common stock for $0.10 per share, fully vested. They raised $350,000 in convertible debt from YC Inc. The convertible debt had a 20% discount, a $5,000,000 cap, and 0% interest. The company sold 250,000 shares to GT Ventures for $10 per share, raising $2,500,000, in its seed round of financing exactly one year later. How many shares of stock did YC Inc. get for their convertible debt.

Answer rating: 100% (QA)

To calculate the number of shares YC Inc received for their convertible debt we first need to determ... View the full answer