Aegis will assist; proceeds fund research and development activities
By Devika Patel
Knoxville, Tenn., Dec. 7 - Northwest Biotherapeutics, Inc. said it priced a $12 million public offering of units with a $1.8 million greenshoe. The offering was announced Sept. 23.
The company will sell 3 million units of one common shares and one half-share warrant at $4.00 per unit, with each whole warrant exercisable at $5.00 for five years. The strike price is a 9.09% discount to the Dec. 6 closing share price of $5.50.
Aegis Capital Corp. is the bookrunner.
Settlement is expected Dec. 12.
Proceeds will be used for research and development activities, working capital and general corporate purposes.
Northwest is a development-stage biotechnology company based in Bothell, Wash.
| Issuer: | Northwest Biotherapeutics, Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $12 million
|
| Greenshoe: | $1.8 million
|
| Units: | 3 million
|
| Price: | $4.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $5.00
|
| Bookrunner: | Aegis Capital Corp.
|
| Announcement date: | Sept. 23
|
| Pricing date: | Dec. 7
|
| Settlement date: | Dec. 12
|
| Stock symbol: | OTCBB: NWBO
|
| Stock price: | $5.50 at close Dec. 6
|
| Market capitalization: | $45.36 million
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