How is pro-ration determined?
The pro-rata percentage will be determined by dividing the number of shares available for sale by the number of shares bid for at the offering price and above. For example: if 4 million shares are being offered by the issuer and there are 5 million shares of demand at and above the offering price, then all bidders will receive 80% of the shares for which they bid rounded to the nearest 100. Please note: The Underwriter reserves the right at its discretion to modify the allocation methodology at any time. For further information regarding the allocation methodology, please read the plan of distribution in the preliminary prospectus.
