NorthWest Biotherapeutics Inc (NWBO)

[hyperopia]

They are still managing the authorized share limit, and can continue to survive hand to mouth for a while. Not sure if this was posted, but there was some disagreement on the number of shares available under the authorized limit back in August.

At September 30, 2021, approximately 30,882,000 shares were technically available under the authorized share limit, however, an addition 3.4 million shares should have been issued by September 30 but were not, so a more accurate number may be 27.42M shares available: (BTW - What warrant/option agreement wasn’t finalized? Linda’s?)

The Company also received approximate $0.8 million cash proceeds from investors prior to September 30, 2021, for which the corresponding exercise agreement was not finalized and thus, common stock totaling 3.4 million was not issued as of September 30, 2021.  Accordingly, such amounts are included in Investor advances in the accompanying condensed consolidated balance sheet as of September 30, 2021.

891,860 Common Stock outstanding

277,766 Warrants outstanding

305,191 Stock Options outstanding
————
1,474,818 Total Common Stock, Warrants, and Options Outstanding

- 305,700 Total Warrants and Options suspended (247.3 options + 58.4 warrants)
—————
1,169,118 Total Common Stock, Warrants, and Options Outstanding excluding suspended Warrants and Options
——————————
——————————
1,200,000 Share Authorization Limit
-1,169,118
—————
30,882 Shares Available

Subsequent Events
In total, the Company received $8.2 million from exercises of warrants and issuance of notes between October 1, 2021 and November 12, 2021.

During October and November 2021, 34.8 million shares of common stock were issued upon warrant exercises of $6.9 million. Approximately 0.9 million shares of common stock are pending to be issued.

During October 2021, the Company entered into multiple four-month note agreements (the “Notes”) with various individual lenders (the “Holders”) with an aggregate principal amount of $1.14 million for net proceeds of $1.1 million. The Notes contain a conditional piggy-back right to independently purchase shares from the Company, which provides a right for the Holders, contingent on the release of clinical trial data and the next private placement offering (“Next Offering”) after this release, to (a) purchase shares from the Company within seven days following such Next Offering at a 12% discount from the share price of the Next Offering for a variable number of shares equal to an amount up to 50% of the principal amount of the loan and (b) exchange some or all of the outstanding loan amount for a variable number of shares, within seven days after the Next Offering at a 12% discount, resulting in a reduced cash amount repayable under the loan agreement.

In October 2021, the Company entered into multiple note extension agreements whereby the maturity date of the notes was extended for additional 2-4 months.

As a reminder:

As of June 30, they were 25,256,000 shares under the authorized limit.


857,230 Common Stock Outstanding

312,035 Warrants Outstanding

+305,779 Stock Options Outstanding
————
1,475,044 Total Common Stock, Warrants, and Options Outstanding

- 300,300 Total Warrants and Options suspended - (241.5 million options + 58.8 million warrants)
————
1,174,744 Total Common Stock, Warrants, and Options Outstanding excluding suspended Warrants and Options
———————————————
———————————————
1,200,000 Share Authorization Limit
- 1,174,744 Total Common Stock, Warrants, and Options Outstanding excluding suspended Warrants and Options
—————
25,256 Shares Available