Oversubscriptions are a campaign mechanic that allow you to accept investment commitments beyond your fundraising target.
A fundraise can be "twice" (x2) or "thrice" (x3) oversubscribed, for example, depending on the total amount of investor interest. Put in another way, this means a campaign has received 200% or 300% of its fundraising target in the form of investor commitments, respectively.
Before launching a campaign and accepting investments with an oversubscription mechanic, you will need to state your policy on how you will allocate securities in the event of an oversubscription. If you accept funds beyond your stated target, you will need to indicate the intended use of proceeds for those additional funds in a follow-up disclosure.
For a more information on oversubscription allocation policies, check out our Learn Page article on this topic.