The paper
What happens if they take more than they should?
Anchor the round to your defensible floor. If the remaining ownership falls below equity you should keep, the round is extracting.
68%
Equity you should keep
You would keep 68% on a $6.2M post-money. That still clears the 23% line. Hold it.
They would open at 32% of the company for $2M. Post-money $6.2M. Floor on file: $4.2M.
Open the case file