Northwest Biotherapeutics, Inc. (OTCMKTS:NWBO) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
| Entry into a Material Definitive Agreement. |
On April 19, 2017, Northwest Biotherapeutics, Inc. (the Company)
entered into a financing in an aggregate principal amount of
$2,250,000 in the form of promissory notes with Toucan Capital
Fund III, LP, an officer of the Company, Leslie Goldman, certain
directors of the Company, Jerry Jasinowski, Robert Farmer and
Cofer Black, and an existing unaffiliated investor. The notes
bear interest at 10.0% per annum and are payable on demand with
seven days advance notice by the applicable holder.
The proceeds from the promissory notes were principally used to
satisfy the Companys obligation to pay $2,070,000 on April 19,
2017 to repurchase $2.0 million principal amount of the Companys
5.00% Convertible Senior Notes due 2017 (the Notes), in
accordance with the repurchase agreement dated March 9, 2017
among the Company and the holders of the Notes.
| Item 2.03. |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information contained above in Item 1.01 is hereby
incorporated by reference into this Item 2.03.
About Northwest Biotherapeutics, Inc. (OTCMKTS:NWBO)
Northwest Biotherapeutics, Inc. is a biotechnology company. The Company is focused on developing immunotherapy products to treat cancer. One of the product lines (DCVax-L) is designed to cover all solid tumor cancers in which the tumors can be surgically removed. Another product line (DCVax-Direct) is designed for all solid tumor cancers. The Company’s lead product, DCVax-L, is in an ongoing Phase III trial for diagnosed Glioblastome multiforme (GBM), with over 60 trial sites. Its second product, DCVax-Direct, is being studied in a 60-patient Phase I/II trial for all types of inoperable solid tumors. The 40-patient Phase I stage of the trial has been completed. The Company is working on preparations for Phase II trials of DCVax-Direct. The Company’s platform technology, DCVax, uses activated dendritic cells to mobilize a patient’s own immune system, including T cells, B cells and antibodies and natural killer cells, among others to attack cancer cells to attack their cancer. Northwest Biotherapeutics, Inc. (OTCMKTS:NWBO) Recent Trading Information
Northwest Biotherapeutics, Inc. (OTCMKTS:NWBO) closed its last trading session down -0.015 at 0.148 with 2,292,336 shares trading hands.