NorthWest Biotherapeutics Inc (NWBO)

[Red_Right_Hand]

Investor082, November 10, 2023. First payment not due until 11/24. Prepayment with a 10% charge. Proceeds used for "the Company’s ongoing business operations."

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001072379/000110465923119165/tm2330851d1_8k.htm

Item 1.01. Entry into a Material Definitive Agreement.

Loan Entered Into

On November 10, 2023, Northwest Biotherapeutics, Inc. (the “Company”) entered into a Commercial Loan Agreement and Note (collectively, the “Loan Agreement”) with Streeterville Capital, LLC (the “Holder”) in the amount of $11,005,000. The Loan Agreement has a maturity of 24 months. Repayments do not start until November 10, 2024.

Following November 10, 2024, the Loan Agreement will be amortized in 12 equal monthly installments of principal at 110% of the pro rata amount, plus accrued interest. Interest on the Loan Agreement accrues at a rate of 8% per annum, and the Loan Agreement includes an original issue discount of ten percent. The Loan Agreement allows pre-payment at any time at the Company’s election. If the Company elects to pre-pay, the pre-payment would include a 10% charge. The Loan Agreement contains customary default provisions, including for potential acceleration.

The funds will be used for the Company’s ongoing business operations.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information included in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.