Northwest Biotherapeutics (NWBO) Announced 1-for-16 Reverse Split in Preparation for $25M Offering and Nasdaq Listing

September 26, 2012 8:23 AM EDT
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Northwest Biotherapeutics (Nasdaq: NWBO) (OTC QB: NWBO), a biotechnology company developing DCVax® personalized immune therapies for cancer, announced that on September 25, 2012 at 5:00 p.m. EDT it effected a one (1) for sixteen (16) reverse split of its issued and outstanding common stock as a first step in a planned public offering of up to $25 million and listing of its common stock on the NASDAQ Capital Market.

The Company effected the Reverse Split pursuant to an amendment to its Certificate of Incorporation filed with the Secretary of State of Delaware. In the same filing, the Company also increased the authorized number of shares of preferred stock to 40,000,000 shares. The Company has no current plans to issue any of the preferred stock. The foregoing corporate actions were taken via majority consent of the stockholders and all appropriate notifications were filed and transmitted

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