NorthWest Biotherapeutics Inc (NWBO)

[exwannabe]

Ooh and to top that off. The C pref buyers dont even know for sure if the A/S increase will be voted on with a positive. A three-double trouble whammy burger there for the C investors. From a legal stand, I would not touch the Cs with a 3-foot pole.

I do agree with you that it would be insane to buy such an illiquid instrument at such a small discount. Even taking into account the $2M in loan payments tied to about half the C's in July.

But nobody knows if the AS limit prevents conversions. If stated, it would be in the subscription agreements which have not been disclosed.

Given the modest discount there is something in the agreements that reduces the risk. One possibility is that they are allowed to convert. That will force LP to sweeten the deal to prevent it (else spend a fortune in open market buys). Another possibility is there is a guarantee to on it vote at the next ASM. lol.