underwriter have sub- underwritersand they can take whatever...

underwriter have sub- underwriters

and they can take whatever they want or dont want in the shortfall - then carve up the rest however they want to the shareholders.... directors have a bit of a say too... but its the underwriters [ that got a shipload of oppies for the pleasure ] that hold all the power and cards.... [ they do hold the risk of being forced to take the shares is 400 odd criteria didnt happen to get them out of the deal anyway... lol ]

having said that i still threw in a good stack...

if i get it all back in a few days its no skin off my nose...