Deal sells 4,317,790 common shares at $5.79 per share to C.F. Woodford
By Devika Patel
Knoxville, Tenn., Nov. 19 – Northwest Biotherapeutics, Inc. said it will raise about $25 million in a private placement of stock with C.F. Woodford Equity Income Fund.
The company sold 4,317,790 common shares at $5.79 apiece. The price per share is a 7.42% premium to the Nov. 18 closing share price of $5.39.
Proceeds will be used to expand and accelerate the Phase III DCVax-L clinical trial in GBM brain cancer, the company’s DCVax-Direct Phase II trials and its early access programs
Northwest is a development-stage biotechnology company based in Bethesda, Md.
| Issuer: | Northwest Biotherapeutics, Inc.
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| Issue: | Common shares
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| Amount: | $25 million
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| Shares: | 4,317,790
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| Price: | $5.79
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| Warrants: | No
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| Investor: | C.F. Woodford Equity Income Fund
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| Settlement date: | Nov. 19
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| Stock symbol: | Nasdaq: NWBO
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| Stock price: | $5.39 at close Nov. 18
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| Market capitalization: | $305.85 million
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