NorthWest Biotherapeutics Inc (NWBO)

[kabunushi]

I'm not an expert on insider participation in offerings. I would point out again that the principle at stake is different between open market trading and buying directly from the company. In the former case, the other side of the trade is damaged by an uneven playing field. In the latter, it's a matter of the company's interest vs the buyer of the offering. In this particular case there had been an open offer of C preferred shares to qualified investors on the same terms - a small discount to market, no warrants. JJ was not a 10% holder and as an outside director, he was probably ring-fenced off from knowing anything about any material deals under consideration. It's possible that a compliance officer or committee might review and give the green light that if there was a deal in the works that JJ had no knowledge and/or else that any company deal was removed enough in time. I admit that my knowledge is not complete wrt insider participation in offerings.