Financing ·
Northwest Biotherapeutics entered into a $4.9 million convertible Promissory Note financing with YA II PN, Ltd.…
NWBONorthwest Biotherapeutics Inc
Northwest Biotherapeutics entered into a $4.9 million convertible Promissory Note financing with YA II PN, Ltd., managed by Yorkville Advisors Global, LP. The 12-month note carries no interest but includes a five percent original issue discount and is convertible at the holder's option at a small discount to market price. Proceeds are for general corporate purposes. Concurrently, the company executed a new standby equity subscription agreement allowing Yorkville to subscribe for up to $50 million in common shares after the note is repaid or converted, replacing a prior cancelled agreement. Yorkville also received warrants to purchase up to $2 million of shares at $0.205 per share. Northwest Biotherapeutics operates in the biotechnology industry, developing personalized immune therapies for solid tumor cancers.