Northwest Biotherapeutics, Inc. (NASDAQ:NWBO) Files An 8-K Other EventsItem 8.01. Other Events.
As previously reported by Northwest Biotherapeutics, Inc. (the “Company”), the Company ceased to be quoted on the Nasdaq Stock Market (“Nasdaq”) as of the open of trading on December 19, 2016. The Company’s common stock commenced trading on the OTCQB Market, operated by OTC Markets Group Inc., as of such time. Ceasing to be listed or quoted on Nasdaq constitutes a “Fundamental Change” and a “Make-Whole Fundamental Change” to the indenture (“Indenture”) relating to the Company’s Convertible Senior Notes (the “Notes”) that were issued in August, 2014 and are otherwise due in August, 2017. In accordance with the Indenture, the Company is making this Item 8.01 disclosure to announce the effective dates of the Fundamental Change and the Make-Whole Fundamental Change. As of the date hereof, there is $11.0 million in aggregate principal amount of Notes outstanding. Unless the parties otherwise agree, the indenture requires the Company to make an offer to repurchase the outstanding Notes within 20 business days of the Fundamental Change and then to make the repurchase of the bonds within thirty-five business days after the Company makes the offer during the twenty business day offer period. The Company is in discussions with the bond holder and with several investors potentially interested in purchasing the bonds. However, there can be no assurance that the other investors will purchase the bonds or that the Company will be able to repurchase the Notes if it is required to do so.
About Northwest Biotherapeutics, Inc. (NASDAQ:NWBO)
