Thanks Inductor for a detailed answer.
So just to confirm that as per the snapshot I posted in my first question from the booklet which was sent by NEA, the price will be lower of those two. Either $ 2.77 or as you quoted, "But if the average price ends up being (say) $2.23, you'll end up with an SP value of around $2.17/share"
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Thanks Inductor for a detailed answer. So just to confirm that...
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