Northwest Biotherapeutics (NWBO) announced on July 29 that it entered into a $4.9 million convertible promissory note with YA II PN, a fund managed by Yorkville Advisors. The note matures in 12 months, carries a 5% original issue discount and no interest, and requires no payments until maturity. The holder can convert at a small discount to the market price during the term. The company also signed a standby equity subscription agreement that lets it require Yorkville to buy up to $50 million in common shares after the note is repaid or converted, though it has no current plans to use that facility; Yorkville also received a warrant to buy up to $2 million of shares at $0.205 per share.
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