Northwest Biotherapeutics Inc. (OTC:NWBO) Stock in Focus After Convertible Note Financing
Following the announcement that the company made yesterday, it would not be a surprise if the Northwest Biotherapeutics Inc. (OTC:NWBO) stock comes into focus among investors. The company made an announcement about key financing deals that could be seen as significant positives.
Convertible Note Financing
Northwest Biotherapeutics announced yesterday that it had gone into a convertible promissory note financing deal with the firm YA II PN Ltd worth $5 million. YA II PN is an investment fund overseen by Yorkville Advisors Global LP. The note would be for a term of 13 months and had an original issue discount of 7%.
However, it would not carry any interest. In the news release, it was also noted that the note also had default provisions. Northwest Biotherapeutics stated that the proceeds from the financing would be used for general corporate purposes, which would include the advancements of not only its lead product but also the in-licensed products as well.
Equity Subscription Agreements
Additionally, the company also entered into standby equity subscription agreements with Yorkville, and it was stated that the company could consider using them following the payment of the note or its conversion. Through the agreement, Yorkville would have the option of subscribing for up to $30 million worth of Northwest Biotherapeutics’ common stock.
Technicals
| +/- EMA(20) | 0.27 (+3.67%) |
| +/- SMA(50) | 0.28 (-0.04%) |
| +/- SMA(200) | 0.37 (-24.35%) |
| 5-Day Perf. | +2.19% |
| 1-Month Perf. | – |
| 3-Month Perf. | -8.38% |
| 6-Month Perf. | -32.88% |
| YTD Perf. | +1.86% |
| 1-Year Perf. | -58.22% |
| RSI(14) | 52.42 |
| ATR(14) | 0.02 |
| ADX(14) | 8.48 |
| Beta (5Y) | 0.37 |
