By Devika Patel
Knoxville, Tenn., June 28 - Neuralstem Inc. priced a direct offering of units for $10 million, according to a prospectus supplement filed Monday with the Securities and Exchange Commission.
The company will sell 3,571,436 units at $2.80 apiece. The units each consist of one common share and one warrant for 0.75 shares, with each whole warrant exercisable at $3.25 for three years.
Noble International Investment, Inc. is the agent. Settlement is expected June 29.
Proceeds will be used for general corporate purposes.
Based in Rockville, Md., Neuralstem develops technologies to transplant human neural stem cells.
| Issuer: | Neuralstem Inc.
|
| Issue: | Units of one common share and one warrant for 0.75 shares
|
| Amount: | $10 million
|
| Shares: | 3,571,436
|
| Price: | $2.80
|
| Warrants: | One warrant for 0.75 shares per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $3.25
|
| Agent: | Noble International Investment, Inc.
|
| Pricing date: | June 28
|
| Settlement date: | June 29
|
| Stock symbol: | Amex: CUR
|
| Stock price: | $2.78 at close June 28
|
| Market capitalization: | $118 million
|
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