December 23, 2015 9:49am
NWBO to sell 3.5 M shares at $3.60 per share; BIG warrant coverage – 1.75 M with an exercise price of $4.50. Opens with a 18% <-$0.815 to $3.96> drop - today
NWBO has entered into definitive agreements with healthcare focused institutional investors for a registered direct offering of 3.5 M shares of common at a purchase price of $3.60 per share with gross proceeds of $12.6 M.
The investors will also receive warrants to purchase up to 1.75 M shares of common stock with an exercise price of $4.50 per share. The warrants will become exercisable on the 6-month anniversary of issuance, and will have an exercise period of 5 years following the initial exercise date.
The placement is expected to close on or about December 29, 2015, subject to satisfaction of customary closing conditions.
H.C. Wainwright & Co., LLC acted as the exclusive placement agent for the transaction.
The Bottom Line: Which drug is curing this condition … it certanly not a reality based treatment.
NWBO closed at $4.45