Investors also get 25% warrant coverage; Oppenheimer is the lead agent
By Devika Patel
Knoxville, Tenn., Aug. 9 - Northwest Biotherapeutics, Inc. said it will raise $15 million in a registered direct placement of stock, which priced Thursday. The deal will be conducted through lead placement agent Oppenheimer & Co. Inc. and co-placement agent Summer Street Research Partners and has a $3.75 million greenshoe.
The company will sell the common shares at $3.35 per share. The per-share purchase price is a 2.62% discount to $3.44, the closing price of the stock on Aug. 7.
Investors will also receive 25% warrant coverage. Each warrant is exercisable at $4.00 for five years. The strike price is a 16.28% premium to the Aug. 7 closing price.
Settlement is expected Aug. 14.
Northwest Biotherapeutics is a development-stage biotechnology company based in Bothell, Wash.
| Issuer: | Northwest Biotherapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $15 million
|
| Greenshoe: | $3.75 million
|
| Price: | $3.35
|
| Warrants: | 25% coverage
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $4.00
|
| Agent: | Oppenheimer & Co. Inc. (lead), Summer Street Research Partners (co-placement agent)
|
| Pricing date: | Aug. 8
|
| Settlement date: | Aug. 14
|
| Stock symbol: | Nasdaq: NWBO
|
| Stock price: | $3.44 at close Aug. 7
|
| Market capitalization: | $103.86 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.
