By Sheri Kasprzak
New York, March 16 - Neuralstem Inc. sealed a $5.135 million private placement of units.
The company sold 2.054 million units at $2.50 each to a group of institutional investors.
The units consist of one share and one half-share warrant with each whole warrant exercisable at $3.00.
T.R. Winston and Co. was the placement agent.
Proceeds will be used for the company's anticipated first human trial and for working capital and general corporate purposes.
Based in Rockville, Md., Neuralstem develops technologies to transplant human neural stem cells.
| Issuer: | Neuralstem Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | $5.135 million
|
| Units: | 2.054 million
|
| Price: | $2.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | $3.00
|
| Placement agent: | T.R. Winston and Co.
|
| Settlement date: | March 16
|
| Stock symbol: | OTCBB: NRLS
|
| Stock price: | $2.77 at close March 15
|
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