Being a $20M iPO, with $2M Dedicated EPM holders, I think it will be a dog fight to get a reasonable sized allocation of the shares. As likely Petra has been very successful at raising for their own network of investors on-shore, and overseas. This could mean this will be oversubscribed fairly quickly.
If we use the previous Options shortfall as a guidance of whom will take up the $2M, that's about a 77.2% take up (and extrapolate to the "100,001 and over" band of holders 1019 --> 787 holders, then that's only $2541 per holder.
Strangely exercising the options or simply buying mores shares (at this current prices), becomes a "free carry". There is a weird (positive) incentive to exercise the options prior to the Feb 2022; otherwise you will miss out of your allocation of the 30% pool of OZ yellow shares, to be in specie distributed, which I think has more certainty than purchasing shares in the IPO,
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