The 50-75% of shareholders that do subscribe will more than cover the $15m....
Blue Ocean as Underwriters hopefully will not gain an allocation. They have already earned over $5m in fees from T1/T2.
That would be wrong. I doubt management will assign to the underwriters any shares left over from SPP in Scale 1. I suspect there will be 2 ot 3 scales with incrementally less assigned to each shareholder after each scale.
Clearly subscribing for $15k will give you the best chance of the best allocation.
I will say most will get about 40% of their subscription with that % respectively dropping under each subscription class i.e 15k, 10k, 5k. With $5k allocations receiving the lowest subscription %.
GG
Letter for SPP, page-70
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