Deal is expected to sell 2.7 million common shares at $0.40 per share
By Devika Patel
Knoxville, Tenn., May 12 – Neuralstem Inc. said it arranged a $1.08 million private placement of shares.
The company will sell 2.7 million common shares at $0.40 per share. The price per share represents a 21.21% premium to the May 11 closing share price of $0.33.
Investors also will receive warrants for 2.7 million common shares. The warrants are exercisable at $0.40 for five years. The strike price is also a 21.21% premium to the May 11 closing share price.
Settlement is expected May 24.
Based in Rockville, Md., Neuralstem develops technologies to transplant human neural stem cells.
| Issuer: | Neuralstem Inc.
|
| Issue: | Common shares
|
| Amount: | $1.08 million
|
| Shares: | 2.7 million
|
| Price: | $0.40
|
| Warrants: | For 2.7 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.40
|
| Pricing date: | May 12
|
| Settlement date: | May 24
|
| Stock symbol: | Amex: CUR
|
| Stock price: | $0.33 at close May 11
|
| Market capitalization: | $35.84 million
|
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