Deal sells units through Oppenheimer to fund research and development
By Devika Patel
Knoxville, Tenn., Nov. 25 - Northwest Biotherapeutics, Inc. said the underwriters for its public offering of units opted to exercise the deal's $3.53 million greenshoe in full, lifting total proceeds of the deal to $27.03 million. The offering was announced Nov. 19 and priced for $23.5 million with the greenshoe on Nov. 20.
The company sold 5,630,208 units of one common share and one half-share warrant at $4.80 per unit. Of the units, 734,374 were part of the fully exercised greenshoe.
Each whole warrant will be exercisable at $6.00 for five years. The strike price is a 9.91% discount to the Nov. 19 closing share price of $6.66.
Oppenheimer & Co. Inc. was the bookrunning manager.
Proceeds will be used for research and development activities, working capital and other general corporate purposes.
Northwest Biotherapeutics 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: | $27,024,998 (including $3,524,995 greenshoe)
|
| Units: | 5,630,208
|
| Price: | $4.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $6.00
|
| Bookrunner: | Oppenheimer & Co. Inc.
|
| Announcement date: | Nov. 19
|
| Pricing date: | Nov. 20
|
| Settlement date: | Nov. 25
|
| Stock symbol: | Nasdaq: NWBO
|
| Stock price: | $6.66 at close Nov. 19
|
| Market capitalization: | $192.92 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.
