Navigation Links
NW BIO ANNOUNCES PRICING OF $17.5 MILLION OFFERING OF CONVERTIBLE NOTES
Date:8/14/2014

BETHESDA, Md., Aug. 14, 2014 /PRNewswire/ -- Northwest Biotherapeutics, Inc. (NASDAQ: NWBO) ("NW Bio") today announced the pricing of $17.5 million aggregate principal amount of its unsecured convertible notes (the "Notes") in a private placement.  The Notes are initially convertible at $7.30 per share, a 10% premium above the closing market price of $6.64 per share on August 13, 2014.  NW Bio plans to use the offering proceeds to fund new manufacturing capacity in Europe and for general corporate purposes.

The Notes will bear interest at a rate of 5.00% per year, and mature in three years unless earlier converted.  The Notes will be subject to certain adjustments as provided in the Indenture. The investors in the Notes will have the right, exercisable for three months, to purchase up to an additional 30% of the aggregate principal amount of the Notes on the same terms and conditions. 

The sale of the Notes to the initial purchasers is expected to settle on August 19, 2014, subject to customary closing conditions, and is expected to result in approximately $16.15 million net proceeds to NW Bio, after deducting fees and estimated offering expenses payable by NW Bio.  

Neither the Notes nor the shares of NW Bio's common stock issuable upon conversion of the Notes, if any, have been registered under the Securities Act of 1933, as amended (the "Act") or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.  This press release does not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale is unlawful.  Any offers of the securities will be made only by means of a private offering memorandum pursuant to Rule 144A under the Act. 

About Northwest Biotherapeutics

Northwest Biotherapeutics is a biotechnology company focused on developing immunotherapy products to treat cancers more effectively than current treatments, without toxicities of the kind associated with chemotherapies, and on a cost-effective basis, in both the United States and Europe. The Company has a broad platform technology for DCVax dendritic cell-based vaccines. The Company's lead program is a 348-patient Phase III trial in newly diagnosed Glioblastoma multiforme (GBM). GBM is the most aggressive and lethal form of brain cancer, and is an "orphan disease." The Company is under way with a 60-patient Phase I/II trial with DCVax-Direct for all inoperable solid tumors cancers and has completed enrollment in the Phase I portion of the trial.  The Company previously received clearance from the FDA for a 612-patient Phase III trial in prostate cancer. The Company conducted a Phase I/II trial with DCVax for metastatic ovarian cancer together with the University of Pennsylvania.  In Germany, the Company recently received approval of a 5-year Hospital Exemption for treatment of glioma (brain cancer) patients outside the clinical trial.

Disclaimer

Statements made in this news release that are not historical facts, including statements concerning future treatment of patients using DCVax and future clinical trials, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Words such as "expect," "believe," "intend," "design," "plan," "continue," "may," "will," "anticipate," and similar expressions are intended to identify forward-looking statements.  Actual results may differ materially from those projected in any forward-looking statement.  Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated, such as risks related to the Company's ability to comply with the closing conditions or other conditions that might prevent the closing of the offering, the use of proceeds from the offering of the Notes, the Company's ability to enroll patients in its clinical trials and complete the trials on a timely basis, uncertainties about the clinical trials process, uncertainties about the timely performance of third parties, risks related to whether the Company's products will demonstrate safety and efficacy, risks related to the Company's and Cognate's abilities to carry out the intended manufacturing expansions, risks related to the Company's ongoing ability to raise additional capital, risks related to the Company's ability to carry out the Hospital Exemption program and risks related to possible reimbursement and pricing.  Additional information on these and other factors, including Risk Factors, which could affect the Company's results, is included in its Securities and Exchange Commission ("SEC") filings.  Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement.  You should not place undue reliance on any forward-looking statements.  The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by securities laws.

Logo - http://photos.prnewswire.com/prnh/20110329/SF73084LOGO


'/>"/>
SOURCE Northwest Biotherapeutics, Inc.
Copyright©2014 PR Newswire.
All rights reserved

Related medicine technology :

1. Vermillion Announces Additions to Commercial Management Team
2. Immune Pharmaceuticals Announces Second Quarter 2014 Financial Results and Provides Update on Bertilimumab Commencement of Phase II Clinical Trials
3. Veracyte, Inc. Announces Second Quarter 2014 Financial Results
4. Hanger Announces Appointment of Asif Ahmad to Board of Directors
5. BiOptix Announces Additional $1.4M in Funding to Aid in Commercialization and Working Capital Needs
6. Perrigo Company plc Announces Quarterly Dividend
7. Kindred Biosciences Announces Second Quarter 2014 Financial Results
8. Imprimis Pharmaceuticals Announces Second Quarter 2014 Financial Results and Provides Operational Update
9. WuXi PharmaTech Announces Second-Quarter 2014 Results
10. Nutrastar International Inc. Announces Second Quarter 2014 Results
11. Novogen Announces Results of General Meeting of Shareholders
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/5/2017)... Oct. 5, 2017  In response to the ... and Maxillofacial Surgeons (AAOMS) released prescribing recommendations that ... be used as a first-line therapy to manage ... Recognizing the value and ... Paper "Opioid Prescribing: Acute and Postoperative Pain Management" ...
(Date:10/2/2017)... , Oct. 2, 2017  Eli Lilly and ... financial results for the third quarter of 2017 on ... conference call on that day with the investment community ... The conference call will begin at 9 ... can access a live webcast of the conference call ...
(Date:9/28/2017)... -- Cohen Veterans Bioscience and Early Signal Foundation announce ... home sensors for real-time monitoring of patients with trauma-related ... organization focused on disruptive health solutions for rare disorders ... to record and integrate behavioral, cognitive, physiological and contextual ... ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... PurhealthRX , a leading Health ... technology. Applying the Purzorb™process to full spectrum CBD oil will revolutionize the rapidly growing ... form that can be easily incorporated into liquid products, while reducing costs to end ...
(Date:10/13/2017)... ... October 13, 2017 , ... Apple Rehab Shelton ... staged a mock evacuation of the facility as part of a disaster drill on ... Echo Hose EMS and Shelton City Emergency Manager, as well as the Connecticut ...
(Date:10/13/2017)... ... 13, 2017 , ... Ellevate Network, the leading network for professional women, brought ... gender equality at their inaugural Summit in New York City in June. The event ... audience of over 3 million. To watch the Mobilize Women video, click here ...
(Date:10/13/2017)... ... ... Talented host, actor Rob Lowe, is introducing a segment ... of "Success Files," which is an award-winning educational program broadcasted on PBS Member ... with passion and integrity. , Sciatica occurs when the sciatic nerve in the ...
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... “America On ... Christian identity. “America On The Brink” is the creation of published author, William ... several great-grandchildren. As a WWII veteran, he spent thirty years in the Navy. ...
Breaking Medicine News(10 mins):