Thank you Names for raising the issue.
If you're interpreting it one way, it's probably a safe assumption that many others are as well - therefore the Prospectus is not clearly explaining the investment.
The methodology to which the Underwritten Amount is applied is extremely important.
I think we've had some very knowledgeable posters with no agenda help to explain how the underwrite applies to the shortfall share component.
I personally think the will raise $8m.
Best guess at amount raised in placement., page-170
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