Northwest Biotherapeutics Crashes On 3.5 Million Share Offering
Earlier Wednesday morning, Northwest Biotherapeutics, Inc (NASDAQ: NWBO) announced it has entered definitive agreements in a 3.5 million share direct offering with healthcare focused institutional investors. Detailed in the press release, the company looks to gain gross proceeds of $12.6 million.
Coupled with this share offering, Northwest Biotherapeutics also announced these shareholders would receive warrants to purchase 1.75 million shares at an exercise price of $4.50 per share.
Shares of Northwest Biotherapeutics fell on this news after the market opened, trading as low as $3.51 per share. Shares recently traded down 19.66 percent on the day at $3.57.
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