NorthWest Biotherapeutics Inc (NWBO)

[Poor Man -]

No need in relation to a buyout.

But preferred and it’s superior voting rights can be used in connection with partnerships and JVs in order to ensure that certain investors, let’s say Merck, maintain control of the new entity; but can also access the public markets via an issue of common. And even later, a conversion of those preferred into common.

There may be some tax issues as well in terms of control versus ownership that the prefer satisfy.