I am logical, though rather be intuitive, but it wouldn’t make any sense to offer something so good for the present holders to sell and then participate in the offering; basically doubling their holdings or do half and then hold free shares.

logically, what that would do to the SP if everyone or most start selling? I would expect SP to drop low enough such that it would be better to sell, not participate in the offering, and then buy when SP drops after everyone engages in selling.

That said, why those who have already connected with their broker haven’t ask for response to this lingering question?!