NorthWest Biotherapeutics Inc (NWBO)

[Milou2]

$0.01 par value shares

The $0.01 represents the par value of NWBO's common shares and not the price paid for them. Par value is an old legal concept which is slowly becoming redundant as most companies opt for No Par Value Shares when they adopt their capital structure as part of their articles. However, in the U.S., the company laws of some States still require a par value, and often the incorporation fees are calculated based on the aggregate par value of the authorized capital (hence the minimal par value of $0.01 per share). Important to note that a company is of course at liberty to issue shares at a premium. Hence the 5.4 M shares issued earlier this week to Woodford were $0.01 par value shares issued for more than $7 a piece.
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