"If there are 17,000 shareholders
Min $500 means $7.5M already."
Night', I think this first part of your arithmetic is awry.
17000 X $500 = $8.5 M?
That leaves only $1.5M to apportion or slightly more going by the wording of the ann'.
But also some of the holders may not have applied for whatever odd reason.
SPP Allocation, page-13
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