The NVX SPP offer is not a "right" ie anyone who owns 10 shares on the 24th Feb are guaranteed 1 share at $2.90. Furthermore the total allocation for retail investers is $15 million "only"
Therefore with the sentiment/momentum NVX has at the moment significant number of retail holders could easily over subscribe the SPP.
If SPP was over subcribed ten times then one would get $1,000 worth of shares (345 shares) and $9,000 refund (if requested the max $10,000)
This is likely since NVX management did not increase the capital raised from institutions which was oversubscribed "multiple" times, so their is a good chance management won't increase the max $15 million from investers either.
Ann: SUCCESSFUL COMPLETION OF INSTITUTIONAL PLACEMENT OFFER, page-47
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