Question: Suppose that the VC holds convertible preferred with 2X liquidation rights. The VC invested $3m and if they convert, they would own 33.3% of the equity. Suppose the company the VC invested is sold for $15m. How much would the VC get in the sale? Would the VC want to convert their shares? Question options: The VC would be indifferent between converting or not, they would get $3m. The VC wouldn't want to convert their shares. By not converting, they get $6m. The VC would want to convert their shares. By converting they would get $3m. The VC would want to convert their shares. Doing so they would get $5m.