NorthWest Biotherapeutics Inc (NWBO)

[exwannabe]

Interesting numbers there on Spicers, had not seen that before.

FWIW, NWBO bought the two properties (the Vision Facility + land was one deal, the large warehouse followed) for a total of 18M GPB plus $5M professional fees and other other capitalized costs.

The current mortgage is $11M. They have a convert that they owe $8M on that has a second lien on the property.

The convert was taken out 4 months ago. 12% 3 years plus a 9% discount. So about 15% (ignoring the convert feature).

I do not know real estate values. But I do know if you have to pay 15% for cash, your security is not exactly solid.