Northwest Biotherapeutics plunges after offering prices at $4.80


As tipped by Tuesday evening's AH action, Northwest Biotherapeutics (NWBO -22.7%) slides hard after pricing an offering of 4,895,834 units at $4.80 each.

The units are for one share of common and confer upon the holder a warrant to buy another half a share (exercise price is $6, exercisable immediately). (PR)

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Comments (4)
  • buyitcheap
    , contributor
    Comments (1902) | Send Message
     
    this was just profoundly bad advice somewhere, why not change the price and offer at $6.50 or something along that line... seems like a lot of money left on the table...
    20 Nov 2013, 11:47 AM Reply Like
  • WavephoreLoser
    , contributor
    Comments (13) | Send Message
     
    I'd like to know how to buy the shares at 4.80 and pick up the 5-year, 6-dollar-a-share warrants for free. What a deal. NWBO's management is showing savvy here. Yes, it hurts for us longs, but then again, we're longs, as in "the long run", and in the long run, this offering positions NWBO very strongly. The timing was impeccable, with the quick, not-so-justified run-up. The price probably would have gone back to the low 5's anyway, but now they were able to sell at close to 5, and less need for a future dilution with the $6 warrants, which represent another potential 14+ million dollars of revenue. I'm not surprised that NWBO's price today is staying over $4.80. It's always a good sign when Mr. Market values a company higher than the dilution price.
    20 Nov 2013, 12:12 PM Reply Like
  • ceristeare
    , contributor
    Comments (1122) | Send Message
     
    Call Oppenheimer Funds, those shares are being gobbled up like one of those rare fat turkeys on Thanksgiving Day. Still a wing left.
    20 Nov 2013, 01:12 PM Reply Like
  • T Wiz
    , contributor
    Comments (36) | Send Message
     
    There is no proof of a back pocket deal, but the smoke is there. The timing of the offering was likely miscalculated by management with the recent publicity and market reaction. May be hard for management to justify the fairness of offering price which was so much below market price.
    20 Nov 2013, 06:36 PM Reply Like
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