Sept. 5, 2013
/PRNewswire/ -- Neuralstem, Inc. (NYSE MKT: CUR) announced today that it has entered into agreements with certain accredited investors for a registered direct placement of 2,535,000 shares of common stock at a price of
per share for aggregate gross proceeds of
In addition, the Company will issue to each investor a warrant to purchase a number of shares of common stock equal to one-half of the number of shares purchased by the investor in the offering. The warrants have an exercise price of
per share and are exercisable six months from issuance date and for a term of 5 years from the initial exercise date.
The offering is expected to close on or about
September 9, 2013
, subject to satisfaction of customary closing conditions.
T.R. Winston & Company, LLC acted as the exclusive placement agent for the offering.
The securities described above are being offered pursuant to a shelf registration statement (File No. 333-169847), which was declared effective by the United States Securities and Exchange Commission ("SEC") on
October 14, 2010
. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. When filed with the SEC, copies of the prospectus supplement and the accompanying base prospectus relating to this offering may be obtained at the SEC's website at
, or by request at T.R. Winston & Company, LLC, 1999 Avenue of the Stars, Suite 2550,
Los Angeles, CA
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 completed an FDA-approved Phase I safety clinical trial for amyotrophic lateral sclerosis (ALS), often referred to as
, and has received FDA approval to begin Phase II. Neuralstem has been awarded orphan status designation by the FDA for its ALS cell therapy.
In addition to ALS, the company is also targeting major central nervous system conditions with its NSI-566 cell therapy platform, including spinal cord injury, ischemic stroke and glioblastoma (brain cancer). The company received FDA approval to commence a Phase I safety trial in chronic spinal cord injury.