Northwest Biotherapeutics, Inc. (NASDAQ: NWBO), a biotechnology company developing DCVax® personalized immune therapies for solid tumor cancers, has completed an underwritten public offering of 4,895,834 units at a public offering price of $4.80 per unit, resulting in gross proceeds of $23,500,000. Northwest also announced today that the underwriter has exercised in full its option to purchase an additional 734,374 units to cover over-allotments. Exercise of the over-allotment option increases the gross proceeds to the Company to $27,025,000.
Each unit consists of one share of common stock, and a warrant to purchase 0.5 shares of common stock at an exercise price of $6.00 per share. The warrants are immediately exercisable and expire on the fifth anniversary of the date of issuance. The shares of common stock and warrants are immediately separable and will be issued separately.