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A Series A investor owns 20% of the company's shares on a fully-diluted basis going into Series B. The terms of the Series B deal

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A Series A investor owns 20% of the company's shares on a fully-diluted basis going into Series B. The terms of the Series B deal are a $5 million investment on a $20 million post-money valuation. Assuming that the Series A investor declines their prorata rights, the Series A investor will own what percentage of the company on the closing of Series B? 10%15%16%20% None of the above

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