Investors also receive 40% warrant coverage; H.C. Wainwright is agent
By Devika Patel
Knoxville, Tenn., April 18 - Northwest Biotherapeutics, Inc. said it will raise $10 million in a registered direct placement of stock. The deal will be conducted through agent H.C. Wainwright & Co., LLC and priced on Wednesday.
The company will sell the common shares at $3.90 per share. The per-share purchase price is a 4.65% discount to $4.09, the closing price of the stock on April 16.
Investors will also receive 40% warrant coverage. Each warrant is exercisable at $4.29 for five years. The strike price is a 4.89% premium to the April 16 closing price.
Settlement is expected April 19.
Northwest is a development-stage biotechnology company based in Bethesda, Md.
| Issuer: | Northwest Biotherapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $10 million
|
| Price: | $3.90
|
| Warrants: | 40% coverage
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $4.29
|
| Agent: | H.C. Wainwright & Co., LLC
|
| Pricing date: | April 17
|
| Settlement date: | April 19
|
| Stock symbol: | Nasdaq: NWBO
|
| Stock price: | $4.09 at close April 16
|
| Market capitalization: | $102.24 million
|
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