I don't know why you guys are worried about over subscription.
As far as this SPP goes, the only limit is $15k per SH. There is no limit as to how many new shares being issued. Patto underwritten up to $5m simply means that if the subscription is below $5m, they will take up shares to guarantee CTP will get at least $5m in total.
If all 9000 eligible shareholders pay $15000 each, CTP will issue $135m worth of shares. JH will take all the money he can get.
Although the dilution effect could be detrimental.
DYOR
I don't know why you guys are worried about over subscription.As...
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