Out of curiosity, I just called the office and spoke to Lynn.
It sounds relatively straightforward - share agreement is signed and returned to cuu with mention of how many shares you want to subscribe to, and you can indicate whether you want "share certificates", or have the shares transferred directly to your trading account. I'm not sure why you would do the former. She forwarded me a copy of the agreement at my request.

I asked her where they are at in terms of allotment, and she said they are currently "oversubscribed", but are still accepting requests, with the potential of increasing the allotment. Basically, I think the gist is, they may exceed the number of shares that they said they were going to release. I don't how they do that - I would have thought they'd need to "reapply" and be "approved", but I'm not very knowledgeable on that side of things.

Anyway, thought there would be some that would find this interesting.