Northwest Biotherapeutics (NWBO) Enters $5M Common Stock Registered Direct Offering
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Northwest Biotherapeutics (Nasdaq: NWBO) announced that it has entered into a definitive agreement with an institutional investor for a registered direct offering with gross proceeds of approximately $5million. The proceeds will be used in connection with upcoming Phase II clinical trials.
Pursuant to the agreement, the Company has agreed to sell to the investor up to 14 million shares of the Company's Common Stock at a purchase price of $0.38 per share.
The sale of the shares is expected to close on or about October 26, 2016, subject to satisfaction of customary closing conditions. Roth Capital Partners acted as the exclusive placement agent for the offering.
The securities described above are being offered pursuant to a shelf registration statement (File No. 333-213777), which was declared effective by the United States Securities and Exchange Commission ("SEC") on October 18, 2016. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. When filed with the SEC, copies of the prospectus supplement and the accompanying base prospectus relating to this offering may be obtained at the SEC's website at http://www.sec.gov
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