NorthWest Biotherapeutics Inc (NWBO)

[exwannabe]

Does anyone know when they’ll actually run out of shares?

For common shares actually issued it is 1.7B. That is a hard limit.

Were it gets very murky is all the derivatives that allow conversions to common. Some require reservation against the share count. Some can be ignored as they are blocked. And some are unclear.

My best guess is that they are getting tight. But what further complicates this is that NWBO has proven they will play a bit of game selling preferred shares as a placeholder for common. That is completely legal, but costs them money as the buyers of illiquid shares will demand better terms.

TLDR: Expect a vote for raising the limit is within the next year.