Northwest Biotherapeutics (NWBO -2.1%) closes a $17.5M convertible note paying 5% interest for a term of three years. The notes are convertible into common stock at $7.50 per share. Investors also have three-month option to buy an additional 30% of the notes.
Proceeds will be used to fund increased manufacturing capacity and ongoing clinical trials.
NWBO shares closed today at $5.98.