okidoki. It all comes down to what is in section 4.
In your deluge case if founders commit $25M then all over $15M will be refunded. It seems clear to me that $15M will be the max accepted
"4.1 The OfferThe Offer is an initial public offering of up to 60 million Shares at an issue price of$0.25 per Share to raise up to $15 million (Maximum Subscription)."
now at 4.1.3, it says the general offer is for 38-50M shares and will included any SHORTFALL of the Priority offer. Well this is a good thing, albeit I can't see the $2.5M Prio offer being undersubscribed. This is dotting the i's and crossing the t's
and at 4.1.2, "Application received in excess of thisamount will be considered in the General Offer", so if we go over the $2.5M the oversubscription could/likely will participate in the public IPO. So this gives us a little comfort
I could not see any beneficial treatment for the larger holders, of which I am a medium size holder, however the prio allocation does have a reference number and when I spoke to Hartleys, I was asked how much I would be contributing, and he did respond that with that amount it would be scaled in reference to my original holding. Hence some confusion, as, if Prio Overallocation will form part of the public we should get all our shares (to a max of $15m). So I remain a little confused Ash, but take comfort that Subscription over the PrioOffer will be considered in the public.
