Northwest Biotherapeutics signs $15 million loan with Streeterville

Chicago, Nov. 29 – Northwest Biotherapeutics, Inc. signed a $15 million loan financing with Streeterville Capital, LLC on Nov. 22, according to an 8-K filed with the Securities and Exchange Commission.

The 22-month loan has an 8% interest rate.

There is also a 10% original issue discount.

The first eight months are amortization-free.

After the first eight months, the loan will amortize in 14 equal monthly installments at 110 of the pro rata amount plus accrued interest.

Prepayment is permitted at any time.

The loan comes with the right to exchange the outstanding balance of the loan, at the lender’s election, for common shares of the company at the price of the private placement transaction following top line data less a 12% discount and the option to purchase another 50% of that number of shares at the same price.

Northwest Biotherapeutics is a development-stage biotechnology company based in Bethesda, Md.

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