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Northwest Bio closes convertible debt deal, completes payoff of $11M in bonds

Published 06/22/2017, 03:38 PM
Updated 06/22/2017, 03:38 PM
© Reuters.  Northwest Bio closes convertible debt deal, completes payoff of $11M in bonds
  • Northwest Biotherapeutics (NASDAQ:NWBO) reports that it has closed a convertible debt exchange and financing transaction with a non-affiliated investor and has finished paying off the last $5M of principal and $175K of interest from a 2014 bond offering. The deal completes its payoff of $11M in bonds.
  • Under terms of the exchange, 50% will be convertible at $0.25/share, 25% at $0.50/share and 25% at $1.00/share. The debt is secured by company-owned property in the UK.
  • Now read: TG Therapeutics: Promising MS Data


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