IPO - Rafaella Resources Ltd, page-7

Does it mean 34% escrow excluding seed?

The Company’s ‘free float’ (being the percentage of Shares
not subject to escrow and held by Shareholders that are not
related parties of the Company (or their associates) at the
time of admission to the Official List will be approximately
66.15%, being the Shares issued pursuant to the Offer. This
excludes any Shares issued by the Company as seed capital
prior to lodgment of the Prospectus, a portion of which will
be freely tradeable at the time of listing.