Is it not just saying the total monies received from the SPP (i.e. the 'acceptances') can exceed the $15M (i.e. 'over-subscriptions') however then at the date of closure and before allotting new shares, at the companies discretion they will scale applications back so that the total raised is $15M?
This is how I read it.....
SPP - Close early or scale back?, page-18
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