Offering will be conducted with Woodford Investment at $7.40 per share
By Devika Patel
Knoxville, Tenn., April 2 – Northwest Biotherapeutics, Inc. said it plans a $40 million private placement of stock with Woodford Investment Management LLP.
The company will sell 5,405,405 common shares at $7.40 apiece. The price per share is a 1.37% premium to the April 1 closing share price of $7.30.
Settlement of the first $11.5 million tranche is expected April 8, and the second $28.5 million tranche will settle on April 30.
Northwest is a development-stage biotechnology company based in Bethesda, Md.
| Issuer: | Northwest Biotherapeutics, Inc.
|
| Issue: | Common shares
|
| Amount: | $40 million
|
| Shares: | 5,405,405
|
| Price: | $7.40
|
| Warrants: | No
|
| Investor: | Woodford Investment Management LLP
|
| Pricing date: | April 2
|
| Settlement dates: | April 8 (for $11.5 million), April 30 (for $28.5 million)
|
| Stock symbol: | Nasdaq: NWBO
|
| Stock price: | $7.30 at close April 1
|
| Market capitalization: | $548.38 million
|
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