Don't really understand the "shares outstanding" discussions. Where do these "shares" come from and why is it a good thing? Thanks, from a fellow Buckeye from Tuscarawas Country!!
Certainly explains the suppressed price ... some significant warrant holders have an in price of below zero so taking off some risk is understandable .
Guessing the investor has sufficient confidence in the trial outcome to exercise warrants and provide capital to NW. Doubt they would sell the underlying however.
Obviously — Captain — explains the pressure on the stock price. Don’t know what percentage were exercised for cash or a cashless exchange. Since the warrants are in the money, I’m sure some of those shares were sold to take profits.
We also don’t know if warrants were expiring, which forced the exercise. And again that could be relatively painless, requiring no cash out of hand.