H.C. Wainwright is agent; offering includes $17 million greenshoe
By Devika Patel
Knoxville, Tenn., April 10 - Northwest Biotherapeutics, Inc. said on Wednesday that it will raise up to $32 million in a registered direct placement of stock. The deal will be conducted through agent H.C. Wainwright & Co., LLC.
The company will initially sell $15 million of common shares at $6.60 per share with a one-year oversubscription option for $17 million of shares at $7.50 apiece. The per-share purchase prices are a 3.93% discount and a 9.17% premium to $6.87, the closing price of the stock on April 8.
Settlement is expected April 14.
Proceeds will be used for accelerating and expanding manufacturing in Europe.
Northwest is a development-stage biotechnology company based in Bethesda, Md.
| Issuer: | Northwest Biotherapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $15 million
|
| Greenshoe: | Up to $17 million
|
| Prices: | $6.60 (for $15 million), $7.50 (for up to $17 million)
|
| Warrants: | No
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| Agent: | H.C. Wainwright & Co., LLC
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| Pricing date: | April 9
|
| Settlement date: | April 14 (for $15 million)
|
| Stock symbol: | Nasdaq: NWBO
|
| Stock price: | $6.87 at close April 8
|
| Market capitalization: | $363.81 million
|
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