Aegis was bookrunner; proceeds fund research, development activities
By Devika Patel
Knoxville, Tenn., Dec. 12 - Northwest Biotherapeutics, Inc. said the underwriters for a $12 million public offering of units opted to exercise the deal's $1.8 million greenshoe in full for total proceeds of $13.8 million. The offering was announced Sept. 23 and priced Dec. 7.
The company sold 3.45 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.
Of the units, 450,000 were part of the fully exercised greenshoe.
Aegis Capital Corp. was the bookrunner.
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: | $13.8 million (including $1.8 million greenshoe)
|
| Units: | 3.45 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
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| Pricing date: | Dec. 7
|
| Settlement date: | Dec. 12
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| Stock symbol: | OTCBB: NWBO
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| Stock price: | $5.50 at close Dec. 6
|
| Market capitalization: | $45.36 million
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