Fully Subscribed

It was a hot underwriting. Everyone wanted in. Free money. So when the red herring was passed around and Wall Streety people drooled over the massive growth of Beef In A Can, they all wanted to buy buy buy, baby buy at $12 a share.

The IPO was thus fully subscribed. In fact, even over-subscribed 8:1, with demand for 96 million shares when only 8 million were being offered.