NorthWest Biotherapeutics Inc (NWBO)

[AVII77]

From yesterdays 8-k

Certain of the warrants retained their original exercise prices ranging as low as $0.175

.
And from the last 10-q

On May 31, 2017, the Company and certain unaffiliated institutional investors entered into an Exchange Agreement pursuant to which ... warrants to acquire up to approximately 16 million shares of common stock at an exercise price of $0.175 per share and exercisable for 2 years from the date of issuance of such warrants,

On June 5, 2017, the Company exchanged ... and issued to such investors approximately 2.5 million Class D warrants with exercise price of $0.175 per share for a period of 2 years.

It does seem bullish that an "unaffiliated institutional investor" still held (up to) 18.5 million warrants excercisable at 17 cents considering the pps is almost double that now. No?

I mean, they could have excercised them and realized (up to) a $3 million profit. But they held instead.

curious.