NorthWest Biotherapeutics Inc (NWBO)

[Basin Street Blues]

Bloomberg Professional: 13.15pm

NW Bio Reaches Agreement With Convertible Note Holders
PR Newswire

BETHESDA, Md., March 10, 2017

BETHESDA, Md., March 10, 2017 /PRNewswire/ -- Northwest Biotherapeutics, Inc. (OTCQB: NWBO) ("NW Bio"), a U.S. biotechnology company developing DCVax® personalized immune therapies for operable and inoperable solid tumor cancers, announced today that it has signed a Note Repurchase Agreement with a group of bondholders affiliated with Whitebox Advisors ("Whitebox"), holder of $11 million of NW Bio convertible senior notes.



With these Notes otherwise due today, as previously disclosed, NW Bio and Whitebox have negotiated a time payment approach tailored to the Company's development schedule with increasing periodic payments over the course of the next 4 months.  As part of the consideration for these adjustments, Whitebox also will be receiving NW Bio common stock.

The details of this cooperative arrangement are available in the 8-K filed by the Company this morning, which can be found on NW Bio's website at www.nwbio.com