Northwest Biotherapeutics, Inc (NASDAQ:NWBO), a biotechnology company developing DCVax® personalized immune therapies for solid tumor cancers, today announced that it has entered into definitive agreements with two new institutional investors for a registered direct offering with gross proceeds of $3.7 million.
The Company will sell to the investors approximately 7.4 million shares of common stock at a purchase price of $.50 per share resulting in gross proceeds to the Company of $3.7 million. The investors will also receive warrants to purchase up to approximately 3.7 million shares of common stock with an exercise price of $.60 per share and an exercise period of 5 years.
Chardan Capital Markets, LLC acted as the exclusive placement agent for the transaction.
The placement is expected to close on or about July 5, 2016, subject to satisfaction of customary closing conditions.(Original Source)
Shares of Northwest Biotherapeutics jumped nearly 17% to $0.70 in pre-market trading. NWBO has a 1-year high of $12.55 and a 1-year low of $0.55. The stock’s 50-day moving average is $0.71 and its 200-day moving average is $1.65.
Northwest Biotherapeutics, Inc. is a clinical stage biotechnology company. It engages in the provision of developing cancer vaccines designed to treat a solid tumor cancers. The company was founded by Alton L.