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2. Suppose that it is one year after EBV's investment in Newco (using the convertible preferred structure from above), and Talltree makes a Series
2. Suppose that it is one year after EBV's investment in Newco (using the convertible preferred structure from above), and Talltree makes a Series B investment for 6M shares of Newco at $0.2 per share. Following the Series B investment, what percentage of Newco (fully diluted) would be controlled by EBV? Consider the following cases: Case 1: Series A has no antidilution protection. Case II: Series A has full-ratchet antidilution protection. Case III: Series A has broad-base weighted-average antidilution protection.
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