This is exactly what happened. We were under our full target on the Wednesday before the close. An enormous number of applications came in the last few days. This is very typical with SPPs where everyone likes to wait until the last moment.
We also had the issue with snail mail letters not reaching many people until the last few days before close. We discussed closing on the Thursday, but felt it would be better to let it close on the original schedule so that we weren’t cutting people out because of AusPost’s incompetence. As many people have pointed out there is no way of making everyone happy in this situation.
Ann: Race raises $29.7 million in oversubscribed SPP, page-152
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