NorthWest Biotherapeutics Inc (NWBO)

[flipper44]

It’s an interesting point. I think it speaks the loudest to Toucan’s share control. Apparently, and I forgot this, a while back Cognate was already made whole, and we all wondered back then who cleared their debt. Was it Toucan? If so, NWBO owed the debt to Toucan. What’s Toucan going to do with the shares, cash and warrants it received? Apparently, from this clause it looks like they will use the common shares to reward and recruit current and future employees at NWBO. They will be pouring it back to the business — apparently, and it looks like they’ll wait to exercise warrants until they are worth far more and needed. It makes me think LP is pretty confident regarding when many outstanding warrants will be exercised and by whom. If Cognate was already paid by Toucan, then Toucan can use most of those common shares they just received for an NWBO incentive plan. Keeping most warrants they control in reserve for prices higher than minimum strike prices. Just speculating.