Northwest Biotherapeutics Inc. has entered into a $5 million convertible promissory note financing agreement with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, LP. The proceeds from this financing will be used to help cover construction and equipment costs for the company's first Grade C manufacturing suite at its Sawston, UK facility, as well as for ongoing operations. The note has a 12-month term, with no payments due until maturity, carries a five percent original issue discount but no interest, and may be converted at the option of the holder at a small discount to the prevailing market price, subject to monthly conversion limits unless the conversion price exceeds $0.29.
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