Northwest Biotherapeutics issues warrants to Toucan Capital

By Sheri Kasprzak

New York, June 4 - Northwest Biotherapeutics, Inc. issued warrants for series A-1 preferred stock to Toucan Capital Fund II, LP in exchange for the cancellation of all previously issued warrants for series A-1 preferred shares.

The new warrant is exercisable for 6,471,333 shares of series A-1 preferred stock.

Each preferred is convertible into 40 common shares at $0.04 each.

Also, the company amended Toucan's warrant for series A preferreds to increase the number of shares issuable upon exercise to 32.5 million from 13 million.

Northwest, based in Bothell, Wash., develops treatments for cancer.

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