Stupid share distribution? I think that was probably the only fair and equitable way to do it given how oversubscribed it was. Labcoin could have gone auction-style and they showed class and chose not to.
I think it didn't make much sense, because it was easily gamed if you had enough funds.
I want 100, there are 2x bids, I bid for 200 I get 100 anyway (and suckers who didn't have enough funds, got less).
I wouldn't call that fair.
Honestly I have no idea why didn't they just fill the higher bids, after all it was market price...
Since I've already read someone against this method, I'd like to know
why.