NorthWest Biotherapeutics Inc (NWBO)

[JerryCampbell]

After all this time, something so wrong that I had to create an ihub account.

The vast majority of nwbo warrants have a provision for cashless exercise. Since the cashless exercise provision is priced to be profit neutral, it is the clearly better choice for a warrant holder as it does not tie up any cash.

Warrants are exercised cashless. No cash to acquirer. It does increase the shares outstanding that the acquirer must pay for.

Even if the warrants were exercised for cash, it would increase the buyer's purchase cost by more than the amount received. As long as the warrants are in the money, this is mathematical fact.