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Northwest Biotherapeutics Announces Registered Direct Offering

Stocks in this article: NWBO





BETHESDA, Md., Aug. 9, 2013 /PRNewswire/ -- Northwest Biotherapeutics (NASDAQ: NWBO) (NW Bio), a biotechnology company developing DCVax® personalized immune therapies for solid tumor cancers, announced today that on August 8, 2013, it entered into an agreement with institutional investors, including an existing healthcare focused institutional investor and a dedicated healthcare mutual fund for a registered direct placement of $15 million of common stock at the price of $3.35 per share plus an additional over-allotment warrant, exercisable within 12 months, to sell an additional $3.75 million of common stock at the same price which, if exercised, would result in gross proceeds to the Company of $18.75 million.

(Logo: http://photos.prnewswire.com/prnh/20110329/SF73084LOGO)

In addition, the Company will issue to each investor 25% warrant coverage to purchase shares of common stock with an exercise price of $4.00 per share.  These warrants are exercisable beginning six months after closing, with an exercise period of five years.

"We are very pleased to receive this financing from both new and existing top institutional investors specializing in healthcare," commented Linda Powers, CEO of NW Bio.  "This financing will provide substantial runway for the Company's multiple clinical programs."

The placement is expected to close on or before August 14, 2013, subject to satisfaction of customary closing conditions.

Oppenheimer & Co. Inc. acted as the lead placement agent for the transaction, and Summer Street Research Partners acted as the co-placement agent.

The securities described above are being offered pursuant to a shelf registration statement (File No. 333-185898), which was declared effective by the United States Securities and Exchange Commission ("SEC") on February 5, 2013.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.  When filed with the SEC, copies of the prospectus supplement and the accompanying base prospectus relating to this offering may be obtained at the SEC's website at http://www.sec.gov or by request at Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26 th Floor, New York, NY 10004, by telephone at 212-667-8563, or by email at EquityProspectus@opco.com

About Northwest Biotherapeutics



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