Yes seems that way. But doing the math, if the top 20 don't buy in, they'd never get that amount from retail. 9/2 most people outside the top 20 hold at most/avg 1 million. That's a max of $2,222 they can buy. Lets say of the 532 holders that hold more than 100,00+ shares 60% decide to opt in, that would be around 320 people buying a max of $2,222 worth = $711k. So the TOP 20 will need to buy in quite a bit. But take out the BOD and Peters, then it's not going to happen. Cancord will be getting the shortfall as we can't buy more than out entitlement. Thats why they underwrite it. Cheap shares for them.
MEM Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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