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You have purchased 1 million shares in a restaurant chain venture. At this zero - stage investment, your company s assets are $ 1 8

You have purchased 1 million shares in a restaurant chain venture. At this zero-stage investment, your companys assets are $180,000 plus the idea for your new product.
Suppose that when you first approach your friendly VC, he decides that your shares are worth only $0.80 each.
How many shares will you need to sell to raise the additional $1,064,000?
Note: Enter your answer in whole numbers, not in millions.
What fraction of the firm will you own after the VC investment?
Note: Enter your answer as a percent rounded to 1 decimal place.

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