BTW their shares are now 100% aligned with ours and even if they weren't they would not unnecessarily dilute more than necessary.
This is more true than ever in that one of Nasdaq's points of reference in violations, or near violations of Nasdaq's 20% rule is whether any of the shares were sold to related parties.
Just in terms of the company's brand integrity with brokers, I agree the company is likely to complete the offering at 38c. It was worded as a contract and the company is less likely to use the Nasdaq's intervention as a way out of a good faith contract.
To your point that management is fully aligned with shareholders, I did not feel this way in earlier phases (hence my reluctance to invest) and now I do.
Also arguing for this is that Cognate is likely to adjust some balance sheet items in order to enable NWBO to move into balance sheet compliance.
At this moment, Cognate and NWBO are fully aligned in their direct interests.