SurfStitch IPO, page-2

Just got an email from InvestSmart:

We have been given some firm stock in two great floats Appen (Bell Potter Lead Manager) & SurfStitch (Co-Lead with JP Morgan).

These floats are fully underwritten and are expected to close as soon as they open next week. InvestSMART has been given limited stock in each float and we are taking expressions of interest so once these floats are open next week we can quickly send you the application form which we will need signed and returned immediately.
We are very sorry but we are limiting all clients to the minimum of $2,000 worth of stock each so more of our members get a chance to participate. Please find details of these two opportunities below.

I guess this is not a good sign then Issue price $1.00 per ordinary share. Any further thoughts?