Dilution impact of a pre-money option pool top-up

Illustrative worked example: STUD is a registered trade name of TELEVORT INC, a Delaware corporation, at pre-seed with a sole founder (Dan Schmitz); the cap table modeled here is not the company's actual cap table and there is no committed round, so every figure here is illustrative. The $1,000,000 raise is the illustrative target on file; the $4,000,000 pre-money, the 10,000,000 founder shares, and the 10 percent pool are scenario values. Arithmetic recomputed against the tasks.py optionPoolShuffle reference oracle, 2026-08-13: post-money is 5,000,000, so investors take 20 percent, and a 10 percent pool created pre-money leaves existing holders 70 percent. Post-money fully diluted shares are 10,000,000 / 0.70 = 14,285,714.29, the pool is 1,428,571.43 shares, the effective price per share is 4,000,000 / 11,428,571.43 = 0.35 against a headline 0.40 (a 12.5 percent haircut), and existing holders bear the full 30 percent dilution: the pool shuffle shifts the entire pool cost onto them because the pool is carved out before the money comes in.