T.R. Winston is the agent; investors also receive five-year warrants
By Devika Patel
Knoxville, Tenn., Jan. 6 - Neuralstem, Inc. arranged a $20 million registered direct placement of stock on Jan. 2, according to an 8-K filed Monday with the Securities and Exchange Commission. T.R. Winston & Co., LLC is the agent for the deal, which was announced as a $19.65 million stock and warrant sale on Jan. 3.
The company will sell 6,872,859 units of one common share and a half-share warrant at $2.91 per unit.
Each whole warrant is exercisable at $3.64 for five years. The strike price reflects a 25.09% premium to the Dec. 31 closing share price of $2.91.
Settlement is expected on Jan. 8.
Based in Rockville, Md., Neuralstem develops technologies to transplant human neural stem cells.
| Issuer: | Neuralstem, Inc.
|
| Issue: | Units
|
| Amount: | $20 million
|
| Shares: | 6,872,859
|
| Price: | $2.91
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $3.64
|
| Agent: | T.R. Winston & Co., LLC
|
| Pricing date: | Jan. 2
|
| Settlement date: | Jan. 8
|
| Stock symbol: | Amex: CUR
|
| Stock price: | $2.91 at close Dec. 31
|
| Market capitalization: | $246.85 million
|
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