Investors receive warrant coverage; Chardan Capital Markets is agent
By Devika Patel
Knoxville, Tenn., July 5 – Northwest Biotherapeutics, Inc. said it will raise $3.7 million in a registered direct offering of stock. The deal will be conducted through agent Chardan Capital Markets, LLC.
The company will sell about 7.4 million common shares at $0.50 per share. The per-share purchase price is a 16.67% discount to $0.60, the closing price of the stock on July 1.
Investors will also receive warrants for 3.7 million shares. Each warrant is exercisable at $0.60 for five years. The strike price is identical to the July 1 closing price.
Settlement was expected Monday.
Northwest is a development-stage biotechnology company based in Bothell, Wash.
Issuer: | Northwest Biotherapeutics, Inc.
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Issue: | Common stock
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Amount: | $3.7 million
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Shares: | 7.4 million
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Price: | $0.50
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Warrants: | For 3.7 million shares
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Warrant expiration: | Five years
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Warrant strike price: | $0.60
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Agent: | Chardan Capital Markets, LLC
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Pricing date: | July 5
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Settlement date: | July 5
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Stock symbol: | Nasdaq: NWBO
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Stock price: | $0.60 at close July 1
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Market capitalization: | $48.68 million
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