Loan & DebtJul 31, 2026, 05:23 PM
Northwest Biotherapeutics Secures $4.9M Convertible Note
AI Summary
Northwest Biotherapeutics (NWBO) entered into a $4.9 million convertible promissory note financing with YA II PN, Ltd. The note has a 12-month term with no interest and a 5% original issue discount, with repayment due at maturity. The company also established a standby equity subscription agreement, allowing it to require Yorkville to subscribe for up to $50 million in common shares over 24 months, exercisable after the note is repaid or converted. Additionally, Yorkville received a warrant to purchase up to $2 million in shares at $0.205 per share. The funds are intended for general corporate purposes, including its lead product and in-licensed portfolios.
Key Highlights
- Northwest Biotherapeutics secured a $4.9 million convertible promissory note financing.
- The note has a 12-month term with no interest and a 5% Original Issue Discount.
- Repayment of outstanding amounts is due at maturity, with customary default provisions.
- The note is convertible at the holder's option at a small discount to market price.
- Entered a standby equity subscription agreement for up to $50 million of common shares.
- The standby equity agreement has a 24-month term, exercisable after the note is repaid or converted.
- Yorkville also acquired a warrant to purchase up to $2 million of shares at $0.205 per share.
- Proceeds from the note will be used for general corporate purposes, including product portfolios.
Price Impact
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