The way I read it.

Falcon started with 75% ownership of Falcon OZ. After the first PP or 5 million, they were left with 73.1 %. Now afer the final closing or another 1.2 million raised left Falcon with 72.7% ownership. So 1.2 million gives (73.1 - 72.7 = 0.4/0.75= 0.5%) the new PP a whopping 0.5% ownership.