Ann: Kin Successfully Completes Rights Issue Over Subscribed, page-4

Yeah it was an estimate based on being involved with many other CRs.
At such a low discount to prevailing price a reasonable assumption would be for 50-75% take up. So around $2M , therefore another $2M from oversubscriptions.
If they're only accepting $1M of the oversubs thats about half of the estimated oversub amt.

So no scientific deduction from the facts in the announcement , but some assumptions were made.

It also depends on how they scale them back.
If one person applied for $500,000 over and everyone else just a few $K, then they might pro rata based on the persons original entitlement
Either way, am pretty sure I'll get a reasonable amount of my oversubscription because I didnt subscribe for $500K.