How To calculate Dilution

A simple way to view equity dilution is the change in ownership held by pre-existing shareholders as the result of an equity financing:

Old Volume shares/(Old Volume Shares + New Volume Shares) = % ownership of pre-existing shareholders after a financing event

For example if the company undergoes 95% dilution with the existing 350 Mil Volume shares then the result should be as follow.

350 Mil Old Volume Shares/(350 Mil Old Volume shares + New Volume Shares)=0.05

=> New Volume Shares = (350 Mil Old Volume Shares/0.05) - 350 Mil Old Volume Shares

ie. New Volume Shares = 6650 Mil New Shares => 6.65 Billion shares will be float on the market after RECAP. My method of calculating dilution could be wrong!