it varies from company to company, how big the issue is, and how...

it varies from company to company, how big the issue is, and how in the money it is.

i've participated in SPPs that were significantly in the money but were undersubscribed, just because they were raising big amounts, like the KAR one which was to raise $100M, but only got $82M.

for a small raising like this one of only $4M, a scaleback is a given if the price maintains current levels. i'm guessing they up the total they will take at the last minute, but that is just speculation on my part, based on what i've seen before participating in my fair share of new issues. i'm not saying they take the lot, even though i've seen it happen, but i think it will get increased.

not everyone has the resources to stump up $15K, and overseas investors aren't given the opportunity, so if there are 2,000 shareholders as you suggest, then don't expect to get scaled back to only 13% of what you subscribe for. it will be much better in my opinion. i reckon you could get as much as half of what you subscribe for if the market holds up.