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A venture has agreed to accept a Series A investment from a Venture Capital firm of 5 million in exchange for 25% of the

 

A venture has agreed to accept a Series A investment from a Venture Capital firm of 5 million in exchange for 25% of the equity. The was previously funded at the seed stage through a convertible note. The convertible note amount is $800,000 and will be converted at the Series A funding at a 30% discount of the share price. The founders have 600,000 shares. What percent of the company will the founders have after the Series A financing? Enter your answer in decimals and round to 4 decimal places, for example 0.2512.

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