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The implied enterprise value of Snap Inc., calculated using the assumptions and acquisition premium provided, is $91,669
Share Price, P = 44.29
Premium on the acquisition, p = 20%
Therefore, effective share price for acquisition, P* = P x (1 + p) = 44.29 x (1 + 20%) = $ 53.15
Number of shares outstanding, N = 1,734 MM
Equity value, E = P* x N = 53 x 1,734
= $92,158.63 MM
Net Debt, D = - 496
Hence, the implied enterprise value:
= Equity value + net debt
= 92,158.63 + (- 496)
= $91,669
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