Proceeds earmarked for working capital and general corporate purposes
By Devika Patel
Knoxville, Tenn., Feb. 6 - Neuralstem Inc. said it will conduct a $5.2 million registered direct offering of shares.
The company will sell 5.2 million common shares at $1.00 per share. The price per share represents a 1.96% discount to the Feb. 3 closing share price of $1.02.
Investors also will receive warrants for 5.2 million common shares. The warrants are exercisable at $1.02 for five years. The strike price is identical to the Feb. 3 closing share price.
T.R. Winston & Co., LLC is the agent.
Settlement is expected Feb. 10.
Proceeds will be used for general corporate purposes, which may include working capital, capital expenditures, research and development, clinical trials, acquisitions and investments.
Based in Rockville, Md., Neuralstem develops technologies to transplant human neural stem cells.
| Issuer: | Neuralstem Inc.
|
| Issue: | Common shares
|
| Amount: | $5.2 million
|
| Shares: | 5.2 million
|
| Price: | $1.00
|
| Warrants: | For 5.2 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.02
|
| Agent: | T.R. Winston & Co., LLC
|
| Pricing date: | Feb. 6
|
| Settlement date: | Feb. 10
|
| Stock symbol: | Amex: CUR
|
| Stock price: | $1.02 at close Feb. 3
|
| Market capitalization: | $51.12 million
|
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