Actually, my 202 shares calculation is incorrect as it assumes everyone will be equally scaled back. It will be less than that for those who applied for $15K.
I used the calculation 750/2600 * 15K / $21.5 rounded up for shares allocated if you applied for $15K.
The OVERALL scale back is (2600-750)/2600 or 71.1% of total application money will not be serviced.
But those who applied for $500 worth get $500's worth (no scale back) and those who applied for $1000 will also get $500's worth, which is just 50% scale back. That means that those who applied for $5K or above will be scaled back more than 71.1% in order that the OVERALL scale back is 71.1%.
Apart from the fact that the press release only gave a preliminary estimate, the actual scale back will depend on how much of the $2.6B applied for was in the $500 or $1000 application amounts. The more of these, the less will be allocated to the $5K and above applicants.
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