Northwest Biotherapeutics Enters Material Definitive Agreement

TL;DR

NWBO just signed a big deal, could be debt or something else. Details TBD.

AI Summary

Northwest Biotherapeutics, Inc. entered into a material definitive agreement on April 26, 2024. This agreement constitutes a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. Specific details of the agreement, including the nature of the obligation and any associated dollar amounts, are not provided in this filing excerpt.

Why It Matters

This filing indicates a significant new financial commitment or arrangement for Northwest Biotherapeutics, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and a financial obligation, but lacks specific details, creating uncertainty about the financial implications.

Key Players & Entities

• Northwest Biotherapeutics, Inc. (company) — Registrant
• April 26, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — registered: Common Stock, par value, $0.001 per share NWBO OTCQB Indicate by
• $11,005,000 — al, LLC (the "Holder") in the amount of $11,005,000. The Loan Agreement has a maturity of 2

Filing Documents

• tm2413348d1_8k.htm (8-K) — 24KB
• 0001104659-24-056424.txt ( ) — 191KB
• nwbo-20240426.xsd (EX-101.SCH) — 3KB
• nwbo-20240426_lab.xml (EX-101.LAB) — 33KB
• nwbo-20240426_pre.xml (EX-101.PRE) — 22KB
• tm2413348d1_8k_htm.xml (XML) — 4KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. Loan Entered Into On April 26, 2024, 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 22 months. Repayments do not start until December 26, 2024. Following December 26, 2024, the Loan Agreement will be amortized in 14 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, including beginning initial construction works for the first grade C lab in the Company's Sawston, UK facility, ordering certain initial long lead-time equipment for the first grade C lab, and facility preparations for delivery of the initial GMP units of the Flaskworks system.

03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of

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. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NORTHWEST BIOTHERAPEUTICS, INC. Date: May 2, 2024 By: /s/ Linda Powers Name: Linda Powers Title: Chief Executive Officer and Chairman