Navigation Links
Northwest Bio Implements Major Balance Sheet Clean-Up
Date:12/2/2011

to equity will be made at a conversion price of $0.57, in exchange for approximately 4.4 million shares of Northwest Bio's common stock.

On November 25, 2011, the Company resolved over $9.8 million of debt that it owed to Cognate BioServices for contract manufacturing and related services provided by Cognate during the period from 2008 to 2011:  $9.2 million was converted into equity on November 25, 2011, and the remaining $679,000 is expected to be converted soon (on the same terms).  Since Cognate is an affiliate of Toucan Capital, that status enabled Toucan to require Cognate to continue doing Northwest Bio's manufacturing and related regulatory work during the long periods from 2008-11 when Northwest Bio was not able to make those payments. Cognate has helped support Northwest Bio since 2005, and is expected to continue to do so.

The settlement and conversion of the accumulated debt to Cognate was made in accordance with an agreement dating back to September 2009 (and reported in Northwest Bio's 10Q and 10K filings since that time) for such a conversion. Under the agreement, the conversion price was to be equal to the lowest conversion price provided to any other creditor during the period involved, which turned out to be $.20 per share.  Accordingly, the $9.2 million debt converted on November 25, 2011, was converted into 46 million newly issued shares of unregistered, restricted common stock. 

Finally, on November 29, 2011, the Company became eligible to remove $16.6 million of debt liability that was previously required to be included in the Company's financial statements because the total amount of Company securities (issued and outstanding stock, plus options, warrants and convertible debt) was above the Company's authorized share ceiling (150,000,000 shares).  The Company's 102,843,148 shares of issued and outstanding stock were well below the ceiling, but the inclusion of options, warrants and convertible deb
'/>"/>

SOURCE Northwest Biotherapeutics
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3 4 5

Related biology technology :

1. BioSpace Spotlights Northwests Life Science Community
2. Northwest Bio Announces Interview of CEO Linda Powers in Todays CEO/CFO Publication
3. NORTHWEST BIO Announces Positive Third Quarter Progress
4. NORTHWEST BIO Will Present at the Second Annual "Cancer Immunotherapy: A Long Awaited Reality Conference" at the New York Academy of Medicine, October 6, 2011
5. Family Foundation of Business Leader Invests $4.55 Million in Northwest Biotherapeutics for Promising Clinical Trials in the US and Europe
6. Cord Blood America Enters Agreement With Regence, Serving BlueCross and BlueShield Programs in the Northwest U.S. and Mountain Regions
7. Dendreon CEO Dr. Mitchell Gold Named Ernst & Young Entrepreneur Of The Year® 2011 Pacific Northwest Award Winner
8. Northwest Biotherapeutics Announces Change and Expansion of Management Team
9. Northwest Biotherapeutics Announces Series of Financing Arrangements
10. Northwest Biotherapeutics to Present at American Society of Cell and Gene Therapy
11. Northwest Biotherapeutics and the Fraunhofer Institute for Cell Therapy and Immunology are Partnering for Clinical Trials and Compassionate Use Cases in Europe
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/29/2014)... 2014 Due to a misstatement posted by ... Adult Stem Cell Technology Center, LLC ( ASCTC ) was ... therapy research that might benefit ALS patients. Because of ... stem cell technologies and therapeutic applications, FRC listed ASCTC as ... donors who wish not to support research that requires ...
(Date:8/28/2014)... 28, 2014 Best Sanitizers, Inc., the ... alcohol-based hand sanitizer, asks food processors and food handling ... hand sanitizer they’re currently using to Best Sanitizers’ ... is critical to fighting cross-contamination and the spread of ... believes there are key criteria that make a hand ...
(Date:8/28/2014)... The ability for organizations to attract top ... individuals to perform at the highest of levels, are ... to compete in this post–recession era. The pharmaceutical ... the sector increasingly focuses on the importance of employee-fit ... real results on the organization's development and the innovation ...
(Date:8/28/2014)... TALLAHASSEE, Fla. Exciting new work by a Florida ... molecular system that can take your temperature, emit white ... , And, the molecule looks like a butterfly. , ... and Biomedical Engineering in the FAMU-FSU College of Engineering, ... ago, but has continued to discover that his creation ...
Breaking Biology Technology:The Adult Stem Cell Technology Center, LLC Declines ALS Ice Bucket Challenge Donors Wishing to Support Ethical Research for New Stem Cell Therapies 2The Adult Stem Cell Technology Center, LLC Declines ALS Ice Bucket Challenge Donors Wishing to Support Ethical Research for New Stem Cell Therapies 3Food Processors and Food Handlers are Encouraged to Prepare for Fall Harvest by Evaluating Their Current Hand Sanitizer Using Nine Key Criteria 2Food Processors and Food Handlers are Encouraged to Prepare for Fall Harvest by Evaluating Their Current Hand Sanitizer Using Nine Key Criteria 3Klein Hersh International Leads Philadelphia Area Life Science Industry in Company Culture 2Klein Hersh International Leads Philadelphia Area Life Science Industry in Company Culture 3Novel 'butterfly' molecule could build new sensors, photoenergy conversion devices 2
... DIEGO and AUSTIN, Texas, Aug. 16 DJO Incorporated,(NYSE: ... services that promote,musculoskeletal and vascular health, today reported that ... granted early termination of the,waiting period under the Hart-Scott-Rodino ... acquisition of DJO by an affiliate of,ReAble Therapeutics, Inc. ...
... Technology,s Robert Lanza, MIT,s Robert ... Langer, and Harvard,s Joseph Vacanti, WORCESTER, Mass., ... medicine, Robert Lanza, M.D.,VP Research & Scientific Development for Advanced ... at MIT,(recent recipient of the National Medal of Science), and ...
... Sales Up 49%, Pre-Tax Net Income Up 42%, ... Inc. (OTC Bulletin Board: CKGT), a vertically integrated,grower, developer, ... today filed its report on Form 10QSB and reported ... All results reported,are in U.S. dollars. The Company ...
Cached Biology Technology:DJO Incorporated's Pending Merger With ReAble Therapeutics Clears U.S. Antitrust Review 2DJO Incorporated's Pending Merger With ReAble Therapeutics Clears U.S. Antitrust Review 3DJO Incorporated's Pending Merger With ReAble Therapeutics Clears U.S. Antitrust Review 4New Edition of Definitive Resource in Tissue Engineering Released Today 2New Edition of Definitive Resource in Tissue Engineering Released Today 3China Kangtai Cactus Biotech Files 2nd Quarter 2007 10QSB and Announces Unaudited Quarterly Results 2China Kangtai Cactus Biotech Files 2nd Quarter 2007 10QSB and Announces Unaudited Quarterly Results 3
(Date:8/28/2014)... the University of Minnesota have developed an animal research ... for muscle regeneration research as well as studies of ... research is published in the current edition of the ... treatment for FSHD, which is thought by many to ... is an unusual genetic disorder because, unlike most genetic ...
(Date:8/28/2014)... unique method for delivering compounds that could ... and AIDS may be possible, thanks to ... Sciences., A semi-soft vaginal suppository made from ... with the antiviral drug Tenofovir provides a ... the spread of sexually transmitted infections during ...
(Date:8/28/2014)... new roads will be built worldwide by 2050. Many ... where they bring an influx of destructive loggers, hunters ... has created a ,global roadmap, for prioritising road building ... demands of development and environmental protection. , The map ... natural importance of ecosystems and a ,road-benefits, layer that ...
Breaking Biology News(10 mins):UMN researchers find animal model for understudied type of muscular dystrophy 2Sensory-tested drug-delivery vehicle could limit spread of HIV, AIDS 2Sensory-tested drug-delivery vehicle could limit spread of HIV, AIDS 3Study shows where on the planet new roads should and should not go 2Study shows where on the planet new roads should and should not go 3
... Ohio Recent research that links specific pieces of ... lead the way to the prevention of viroids, pathogens ... plants. The findings and the research approach ... applications in the study of how certain viruses spread ...
... us have missed a dose of antibiotic or forgotten to ... as they are for people with HIV/AIDS a ... for the entire population. Now, a breath monitoring device ... Inc. could help prevent the emergence of drug-resistant strains of ...
... definitive critical review, scientists at Childrens Hospital & ... biological or behavioral evidence linking vitamin D deficiency ... staff scientist and Bruce N. Ames, Ph.D., senior ... conclude that there is ample biological evidence to ...
Cached Biology News:Analysis of RNA role in spreading disease advances study of damaging plant infections 2Analysis of RNA role in spreading disease advances study of damaging plant infections 3Analysis of RNA role in spreading disease advances study of damaging plant infections 4Scientists test device to track medication adherence in patients with HIV/AIDS 2Scientists test device to track medication adherence in patients with HIV/AIDS 3Vitamin D in brain function 2Vitamin D in brain function 3
RNA oligomers from 10 to 50 bases purified by PAGE and MS-checked. RNAs are supplied dried and fully deprotected....
... (Cap Analog) is used for the synthesis ... vitro transcription reactions. Substitution of cap analog ... in an in vitro transcription reaction results ... into a large fraction of the transcripts. ...
The iEMS Incubator/Shaker is a high performance microplate incubator and orbital shaker. Its superior temperature control and efficient orbital shaking reduce incubation times. -...
... atlantica Description: Beta-Agarase is useful in ... low-melting-temperature agarose. Beta-Agarase digests the agarose ... Friendly Properties: Heat Inactivation: 65C, 15 ... pH: 6.5 Purity: Tested for contaminating ...
Biology Products: