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Northwest Bio Announces Transactions for $5.4 Million in New Financing
Date:11/17/2011

BETHESDA, Md., Nov. 17, 2011 /PRNewswire/ -- Northwest Biotherapeutics (OTC.BB: NWBO) (Northwest Bio) today announced $2.4 million in new funding under favorable loan terms, as well as an agreement to purchase the first $3 million in shares of common stock under the previously announced agreement for an equity facility of up to $25 million over a 30-month term.

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The $2.4 million is comprised of two loans, both from existing non-affiliate investors. One loan is for $2 million with an interest rate of 6% and a maturity of 6 months, 30% warrant coverage at an exercise price substantially above the current market price ($.57 per share), and no convertibility. The second loan is for $400,000, with an interest rate of 6% and a maturity of 2 years, no warrants, original issue discount of 10%, and convertibility at a 10% discount from the market price at the time of conversion.

An existing non-affiliate investor has also entered into a Purchase Agreement to purchase the first $3 million of newly issued shares of common stock under the Company's pending equity facility, at a 5% discount from the current market price at the time of the stock purchases.  

As announced in June, the equity facility will involve filing a Registration Statement and will enable the Company to issue up to $25 million of common stock over a 30-month period.  All use of the facility will be at the Company's sole discretion.  The Company previously entered into an overall agreement with Toucan Partners for this equity facility, in order to ensure that the facility would be administered in a positive and beneficial manner for the Company.  The agreement with Toucan expressly contemplated that a series of investors would commit to purchase portions of the overall amount of stock to be issued.  With an agreement now in
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