Normally I would hold applaud that move. But my concern is how many shares of NWBO stock that Toucan receive in return for the merger? It’s not an arms length transaction, so who will provide the independent valuation?
Let’s be honest, NWBO has already funded the start up costs for Advent — I estimate over $35 million or more. So my expectations are that the merger would result in minimal shares transferred to Toucan.
Account for all shares, short and long. Make sense? Does this seem like a strategy NW would take if they wanted to crush the counterfeit short sellers?? Thats all you need to know.