Question
Yong Yue is the founder and owner of 2 million shares of a company. Two years ago, Jin Wang invested $3 mlllion in exchange for
Yong Yue is the founder and owner of 2 million shares of a company. Two years ago, Jin Wang invested $3 mlllion in exchange for 1 million shares of the company. Jin's investment has an anti-dilution clause that is designed to prevent the value of the investment from dropping below $1.5 million. Now, the company needs $2 million of financing from new outside investors. It is expected that the post-money value of the company will be $4.5 million. How many shares will Jin Wang own immediately following the current funding raise? Express your answer in millions of shares to two decimal places e.g.4.53 million shares should be expressed as 4.53
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