Question

regenify is a biotech startup in boston, ma that recently raised a new round of funding from three prominent venture capital firms. there are 15,620,550 shares outstanding after the financing with a valuation of $120,000,000. what is the price per share of regenify? round to the nearest cent. question 2 of 2 double - click the light blue cells to edit them. shares outstanding × market price = market capitalization 15,620,550 × = $120,000,000

Explanation:

Step1: Recall the formula

The formula for market - capitalization is $Market\ Capitalization = Shares\ Outstanding\times Market\ Price$. We need to find the market price, so we can re - arrange the formula to $Market\ Price=\frac{Market\ Capitalization}{Shares\ Outstanding}$.

Step2: Substitute the values

We are given that $Market\ Capitalization = 120000000$ and $Shares\ Outstanding=15620550$. So, $Market\ Price=\frac{120000000}{15620550}$.

Step3: Calculate the result

$Market\ Price=\frac{120000000}{15620550}\approx7.68$.

Answer:

$7.68$