Deal also includes five-year warrants for 1.75 million common shares
By Devika Patel
Knoxville, Tenn., Dec. 23 – Northwest Biotherapeutics, Inc. said it has arranged a $12.6 million registered direct offering of stock. H.C. Wainwright & Co., LLC is the agent.
The company will sell 3.5 million common shares at $3.60 apiece. The price per share represents a 19.1% discount to the Dec. 22 closing share price of $4.45.
The investors will also receive warrants for 1.75 million shares, which are each exercisable at $4.50 for five years. The strike price is a 1.12% premium to the Dec. 22 closing share price.
Settlement is expected Dec. 29.
Northwest is a development-stage biotechnology company based in Bethesda, Md.
| Issuer: | Northwest Biotherapeutics, Inc.
|
| Issue: | Common shares
|
| Amount: | $12.6 million
|
| Shares: | 3.5 million
|
| Price: | $3.60
|
| Warrants: | For 1.75 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $4.50
|
| Agent: | H.C. Wainwright & Co., LLC
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 29
|
| Stock symbol: | Nasdaq: NWBO
|
| Stock price: | $4.45 at close Dec. 22
|
| Market capitalization: | $329.73 million
|
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