NorthWest Biotherapeutics Inc (NWBO)

[notbrad]

Senti, this is my thinking. 233m warrants cannot be exercised until Nov 1. And let's suppose there is a 233m naked short position (intended to be hedged by these warrants). Upon TLD, if the share price goes up to say $5, then there is bound to be a margin call on this short position that cannot be immediately covered with the suspended warrants. This margin call will need to be financed to the tune of approximately $1.2 billion. If the stock price goes to $10, then they need to finance $2.33 billion. That's my take. I don't see how else they get around this constraint.