Replies to post #260638 on NorthWest Biotherapeutics Inc (NWBO)

[sentiment_stocks]

Her 9 or so million Series B Class D-2 $0.30 warrants expire exactly when they do for anyone else that hasn't had those warrants extended... in early May (2 or 3?) 2020. The 8,695,652 shares were Series B shares and D-2 warrants that expire in 2 years (the form states 5 years, it's incorrect).

The 29,411,760 shares were Series A shares, and their warrants were D-1 warrants exercisable at $0.22, and they expire in 5 years. See the original 10Q from 9/2017 that cites the original transaction with Cognate, from whom LP received the shares and warrants as payment from Cognate management.

Subsequent to September 30, 2017, the Company and Cognate reached agreement in principle for settlement of the amounts owed, at a substantial reduction from the amounts that would otherwise be due under the contract terms. The parties are now in the process of drafting and executing the agreement. For 2016, the Company owes Cognate US approximately $17 million. Under the settlement, the Company will only pay approximately $12 million, and the remaining $5 million is being written off. The $12 million is being paid in preferred stock which will be convertible into common stock at $0.23 per share, and an equal number of warrants exercisable at $0.30 per share for a period of 2 years. For 2017, the Company would have owed Cognate US approximately $26 million under the contract terms. Under the settlement, the Company will only pay Cognate US approximately $12 million.. Of this $12 million, $5 million is being paid stock, reducing the cash costs to approximately $7 million (part of which has been paid to date). The $5 million is being paid in preferred stock on the same terms as the unrelated investors: $0.17 per share and an equal number of warrants exercisable at $0.22 per share for a period of 5 years.
https://www.sec.gov/Archives/edgar/data/1072379/000114420417060217/tv479903_10q.htm

It's a minor point for me too, but I'm quite sure I'm right on this one.