Schulze foundation agrees to buy common shares at small premium
By Susanna Moon
Chicago, July 5 - Northwest Biotherapeutics, Inc. negotiated a private placement of common shares for $4.55 million with the Richard M. Schulze Family Foundation on June 28, according to an 8-K filing with the Securities and Exchange Commission.
The Schulze foundation paid $0.69 per share, which is a 4.55% premium to the closing price of $0.66 per share on June 27.
The investor also received warrants exercisable for 24% of the number of shares issued, or for 1,582,609 shares, at $0.69 each for five years.
In consideration of the financing, Pandora Select Partners, LP, Whitebox Multi-Strategy Partners, LP and Whitebox Special Opportunities Fund LP - Series B surrendered to Northwest Biotherapeutics warrants exercisable for 11% of the number of shares issued in the June 28 financing, according to a company press release. They were exercisable at $0.57 each for five years.
Northwest is a development-stage biotechnology company based in Bothell, Wash.
| Issuer: | Northwest Biotherapeutics, Inc.
|
| Issue: | Shares
|
| Amount: | $4.55 million
|
| Price: | $0.69
|
| Warrants: | For 1,582,609 shares
|
| Warrant strike price: | $0.69
|
| Warrant expiration: | Five years
|
| Investor: | Richard M. Schulze Family Foundation
|
| Pricing date: | June 28
|
| Stock symbol: | OTCBB: NWBO
|
| Stock price: | $0.64 at close July 1
|
| Market capitalization: | $56.19 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
