On August 21, 2020 Northwest Biotherapeutics (OTCQB: NWBO) ("NW Bio"), a biotechnology company developing DCVax personalized immune therapies for solid tumor cancers, reported that the Company has completed a non-dilutive debt financing for net proceeds of another $5 million (Press release, Northwest Biotherapeutics, AUG 21, 2020, View Source [SID1234563936]).

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The Company anticipates that this financing will help further build the Company’s momentum by providing resources for expansion of production capacity and for ramp up of certain readiness activities as the Company approaches the readout of topline data from its Phase III trial of DCVax-L for Glioblastoma.

The Company entered into this 21-month Note (the "Loan") on August 17, 2020 for $5,505,000 at an 8% annualized interest rate, with no payments due for the first 7 months. Prepayment of the Loan can be made at any time with a 15% prepayment penalty. If the Loan remains outstanding past month 8, it will be amortized through month 21 with monthly payments of 110% of 14 equal monthly principal payments. The note also includes a $500,000 original issue discount. The lender is Iliad Research and Trading, LP.