NorthWest Biotherapeutics Inc (NWBO)

[hyperopia]

muee88, as of September 30, 2022, there were approximately 948 million shares of common stock outstanding, 885,155 shares of convertible preferred, approximately 305 million options, and 145 million warrants outstanding. Since the end of the 3rd quarter, some financing actives have occurred, (i.e. stock was sold, warrants converted etc.) and as of November 8, 2022, the total number of shares of common stock outstanding was 1,052,853,970, so yes, TD Ameritrade is correct. The market cap is often used as the current value of the company, which is the number of shares of common stock outstanding multiplied by the stock price, which is currently about 1.05B x $1.15 = $1.2B.

However, in the case of a buyout, the remaining warrants and options would also be considered outstanding, and the C-series preferred would be converted to common, so the buyout price should be divided by the total number of shares of outstanding common stock, warrants, and options, which currently are approximately 1.5 billion in total. So for example, if the buyout offer was $22 billion, the buyout offer would be divided by 1.5B, so the buyout price per share would be $14.66.