Don't know what your goals are here, but if you have $2M banked then you're presumably shooting for a relatively large ~$100M+ market valuation. At this point,

Don't know what your goals are here, but if you have $2M banked then you're presumably shooting for a relatively large ~$100M+ market valuation. At this point, your primary focus should be the success of your pivot, and nothing is more valuable than cash. If the extra 16% equity is necessary to ensure your ability to fundraise and retain talent, then it is a fatal condition. You must find a way to show the equity holders that their 16% will be worth zero unless they give some back. If the extra 16% is _extremely annoying_, and you really wish you could get it back because you think this new venture will be HUGE... then I'd advise you to consider leaving it alone as "dead equity". Yeah it sucks, but your options here are Victory or Zero. Giving up cash (or time, and mental anguish) for a slightly larger Victory doesn't really help you, and increases the probability of Zero by a non-trivial amount. Check your ego and be wise here. IANAL. Your Mileage My Vary.