Suppose Hagadorn Venture Capital makes a $5M Series A investment in NewTech for 1M shares at $5 per share. One year later, NewTech has fallen on hard times and receives a $5M Series B financing from Dobie Venture Capital for 5M shares at $1 per share. The founders and the stock pool have claims on 2M shares of common stock. Going forward, for brevity we will use the term "employees" to mean "founders and the stock pool". Series A has broadbase weightedaverage antidilution protection. What percentage of NewTech (fully diluted) would be controlled by Hagadorn Venture Capital following the Series B investment?

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