In this case it is 15% or 3 million shares. Considering 1,133,100 shares of the over alotment were already purchased, that leaves 1,866,900 remaining and judging by the volume over the last 3 days, those could be history.

The bigger issue could be the $50 million bought deal plus $7.5 million overalotment shortfall that the company originally wanted in the bought deal. They'll want that $57.5 million eventually somewhere down the road.

10 million shares at 5.85 would cover it. lol