RE: Describing significant...IMHO, If you have 40% controlling interest in a company, and you've given 20% of that company to investors who supported you for a given period of time, one would think that you'd still retain more than 50% controlling interest in the company... provided that you don't do anything to make them mad, or give them the idea that you weren't working in their best interest and the interest of the company...
The higher the portion of the company that can be divested (in this case) the less likely that it will be that you'll have to do another PP... I'm sure you get my meaning here...