Oversubscribing will only lead to excess dilution if the company...

Oversubscribing will only lead to excess dilution if the company accepts the extra money.

More often than not, when the shares are really in demand, my experience has been that the company will scale back the number of shares offered to plebs like us and stick to the original amount.

There has been no mention of underwriting the SPP. In the current case with S2R, I'm guessing that an underwriter won't be needed and that the full $3m will be raised. Who wouldn't want a few extra shares for 40c when they continue to trade at 25% above this level. Not a huge profit, still, it's easy money for plebs like us.