NorthWest Biotherapeutics Inc (NWBO)

[Poor Man -]

I would like a quick buyout too. But there are reasons that limit an acquisition price well below what you (and everyone else) would like.

While NWBO remains an OTC stock, which places severe structural limits on accretion of the stock price, there is almost no possibility that a BP would offer a large price multiples at $10 a share and above. I’ve indicated that maybe $3 to $5 is possible as the upper limit while the stock is traded as an OTC. The reason is that a BP would likely make a tender offer directly to shareholders rather than offer a price significantly beyond that $5/shr equal to a market cap of $5 billion.

Even though management controls a large percentage of shares and warrants, a BP that offers $5 per share (~17x the current price) would likely be able to buy a large percentage of shares from retail shareholders, and maybe even from large investors like NW and Bigger – $5/shr represents $1 billion for Bigger and his investors, and a significant return of capital for NW.

In any event, if a buyer couldn’t acquire enough shares to become a majority shareholders, even with a large minority of shares, let’s say 35% to 40%, they would be able to place enormous pressure on LP over time to sell the remaining shares of the company. Exercising anti-takeover provisions probably wouldn’t mean much, since there’s not much remaining in authorized shares to dilute the stock further; which in any event, any further dilution would further encourage shareholders to sell.

That’s why it’s critically important to up list, otherwise it’s an invitation for a BP to attempt a hostile takeover. And at $3 to $5 a share per se, I suspect that a large majority of non-insider shareholders would accept the offer.

For me, I just want fast BO, hope it will happen tomorrow. pps $16-23 is great for me. So I send the amazing of UCLA to all BP included Takeda, but I guess they will not read it.