NorthWest Biotherapeutics Inc (NWBO)

[JerryCampbell]

No way to know whether the shares from the warrant exercise were flipped. There has been plenty of volume lately to absorb 9m.

I think there is a more interesting point. These warrants were likely close to expiration. Perhaps they were part of the 62m May/June that LP had expected to expire, but then nwbo's stock price moved up enough to put them in the money. Recall this line from the 5/20/20 8-K:

During May and June, 2020, approximately 62 million warrants have expired or are scheduled to expire...

I wonder if part or all of the other 53m May/June warrants are now in the money, or if they expired too soon to benefit.