NorthWest Biotherapeutics Inc (NWBO)

[JerryCampbell]

nwbo snuck that raise in at the last second prior to the deadline. It has been in the works since 10/5, no doubt both sides working the warrant extension/reprice issue.

Back in 2016 it took three S-3/A revisions and almost a month to get the SEC to declare the S-3 effective. The 30 day exclusion may be a window to flip, but it might have been almost that long before nwbo could issue again anyway.

The warrant disclosure is lacking in transparency. It might be possible to estimate some details from the next filing by comparison to:

361,729,610 shares of our Common Stock that have been reserved for issuance upon exercise of outstanding warrants at a weighted average exercise price of $0.29 per share.

If the weighted average exercise price drops below $0.29, then you can surmise they modified quite a few warrants. Nothing in the prospectus says each new share purchase modifies only one warrant.