ROCKVILLE, Md., Sept. 19, 2012 /PRNewswire/ -- Neuralstem, Inc. (NYSE MKT: CUR) today announced the closing of a registered direct offering of 7,000,000 shares of its common stock, offered at a price of $1.00 per share. The gross proceeds to Neuralstem from this offering were $7,000,000, before deducting the placement agent fees and other estimated offering expenses payable by Neuralstem.
Aegis Capital Corp. acted as sole placement agent for the offering.
The offering was conducted pursuant to a shelf registration statement that Neuralstem filed with the Securities and Exchange Commission ("SEC") and is effective. A final prospectus supplement and accompanying base prospectus relating to the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov. Copies of the final prospectus relating to the offering may be obtained by contacting Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY, 10019, telephone: 212-813-1010 or email: email@example.com, or from the above-mentioned SEC website.This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted. About Neuralstem Neuralstem's patented technology enables the ability to produce neural stem cells of the human brain and spinal cord in commercial quantities, and the ability to control the differentiation of these cells constitutively into mature, physiologically relevant human neurons and glia. Neuralstem is in an FDA-approved Phase I safety clinical trial for amyotrophic lateral sclerosis (ALS), often referred to as Lou Gehrig's disease, and has been awarded orphan status designation by the FDA. In addition to ALS, the company is also targeting major central nervous system conditions with its cell therapy platform, including spinal cord injury, ischemic spastic paraplegia and chronic stroke. The company has submitted an IND (Investigational New Drug) application to the FDA for a Phase I safety trial in chronic spinal cord injury.