By Jennifer Chiou
New York, June 25 - Neuralstem Inc. announced that it entered into definitive agreements to sell $10 million of units at a price of $2.80 each.
The units are made up of one common share and a three-quarter share warrant.
The warrants have an exercise price of $3.25 for three years.
Noble Financial Capital Markets is the placement agent.
Proceeds are earmarked for working capital and general corporate purposes.
Based in Rockville, Md., Neuralstem develops technologies to transplant human neural stem cells.
Issuer: | Neuralstem Inc.
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Issue: | Units of one common share and a three-quarter share warrant
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Amount: | $10 million
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Price: | $2.80
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Warrants: | One three-quarter share warrant per unit
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Warrant expiration: | Three years
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Warrant strike price: | $3.25
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Announcement date: | June 25
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Stock symbol: | Amex: CUR
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Stock price: | $2.93 at close June 25
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Market capitalization: | $123.8 million
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