"And didn't the earlier offer to Instos go through @$8.00? not $7.70?"
From my understanding etherazer , the Insto's got them at the same price retail investors are paying i.e.$7.70.
I believe the $8 you are referring to, is the price that was achieved in the auction of those shares not taken up by the Insto's, so they will get the difference paid back to them, that is 30c they will receive for every share they were eligible to buy but didn't.
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