NorthWest Biotherapeutics Inc (NWBO)

[kabunushi]

If anybody understands the extra $2M investment identified in item 3.02 of the latest 8-k for the offering, please help me understand the pricing. It's a complicated mix of reducing some 6M warrants from .26 to .22, issuing 5M new warrants at .22 and issuing 120k new preferred warrants. Given that the preferred is worth $1.70, that part is only about $200k. The .04 warrant strike reduction for 6M is only worth another some $250k, and the 5M or so new warrants at .22 seem like they'd be worth well under .22 - even pricing those at .22 (and they gotta be worth far less than that) would still net out to value of under $1.5M for $2M cash. What am I missing, if anybody is curious enough to try to figure this mystery out?