Can a new Investor Offer referral code be applied to an account whose previous Microsoft for Startups credits expired unused?

Our startup joined Microsoft for Startups through an earlier Microsoft accelerator programme. The Azure credits from that offer expired in August 2026 and the subscription has converted to pay-as-you-go.

The credits were never consumed — usage against the sponsorship was zero for the entire term. We are not asking for an extension or reinstatement of those credits; we understand the term is fixed.

We have since joined a different accelerator that is part of the Microsoft for Startups Investor Network, and have been issued an investor referral code for a new Azure Startup Credits offer.

My question: because our Microsoft account has already redeemed an Azure credit offer once, will a new application with the investor referral code fail with "Already redeemed" or "You aren't eligible for this offer"?

Specifically:

1. Can Program Support enable a new Investor Offer on an existing account where the prior offer has fully expired and was never consumed?
2. If a separate Microsoft account is required instead, can an existing pay-as-you-go subscription be migrated to that new account so the new sponsorship credits cover it?

I have a ticket open with Microsoft for Startups Program Support, but posting here in case someone has resolved the same situation.