Traditional Search Fund economics for investor

I'm trying to understand how the economics work for an investor in traditional search fund. Please feel free to point me to literature to explain.

If I raise 10 units (@50k/each) and an investor takes 1 unit, they get the pro rata right to buy 10% equity of the deal. Now lets say the EV of a deal is 10M (2m EBITDA).

Invested Capital = 6M
Debt = 4M

Would they get the 10% of the business for 600k equity check or 1M? Sorry I know I'm oversimplifying here and this is a remedial question. Any help is most appreciated.