max of 202 shares each, page-27

it will work like this imo:

$750m divided by $2.6bill = 28.846%

Therefore everyone will get 28.846% of what they applied for.

$15,000 applications will get 201.25, rounded to 202. Simple as that.

if you applied for $500 worth you will get $144.23 worth or 6.7 shares rounded to 7.

Scalebacks will be uniformly across the board irrespective of size of application imo.

Not exactly. Those who applied for $500 will get 100% of their application and those who applied for $1000 will get 50% of their application, as everyone gets at least $500 according to the announcement.

This means those who applied for $5K and above will get LESS than 28.846% of the amount applied for, so that the overall average is 28.846%

The more applications at the $500 and $1000 level, the greater the scaleback for $5K and above applications.