NorthWest Biotherapeutics Inc (NWBO)

[OutsideLane]

Cognate Bioservices take Northwest Biotherapeutics Private

That will be the result of this saga. With the Most Favored Nation provision of the most recent raising, and likely other raisings later, Cognate will become a majority shareholder of NWBO. Combined with shares owned by Toucan, Linda and affiliates, it will be fairly easy to pay off the other shareholders and take the company private. Likely, this will be done just before there is positive result. The bylaws of the company are very friendly to an insider led buyout, and very unfriendly to minority shareholders. While this was supposedly done to avoid the hostile takeover by a large company, it also serves to keep management and insiders permanently in charge, and that could include taking the company private.

I hope my prediction is wrong, but I can see it happening.