By Sheri Kasprzak
New York, March 31 - Northwest Biotherapeutics, Inc. said it has entered into agreements with institutional investors for a $5.53 million private placement of stock.
The investors plan to buy 39.5 million shares at $0.14 each, a 75.4% discount to the closing stock price on March 30 of $0.57.
Northern will also issue warrants for 19.7 million shares, exercisable at $0.14 each for five years.
C.E. Unterberg, Towbin, LLC is the placement agent.
The deal was scheduled to close Friday.
Proceeds will be used for clinical trials and for general corporate purposes.
Based in Bothell, Wash., Northwest develops immunotherapy products used to treat cancer.
| Issuer: | Northwest Biotherapeutics, Inc.
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| Issue: | Stock
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| Amount: | $5.53 million
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| Shares: | 39.5 million
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| Price: | $0.14
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| Warrants: | For 19.7 million shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $0.14
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| Placement agent: | C.E. Unterberg, Towbin, LLC
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| Announcement date: | March 31
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| Settlement date: | March 31
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| Stock symbol: | OTCBB: NWBT
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| Stock price: | $0.57 at close March 30
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