GERMANTOWN, Md., July 31, 2019 /PRNewswire/ -- Neuralstem, Inc.
(Nasdaq: CUR) ("Neuralstem" or the "Company") today announced the
closing of its underwritten public offering of an aggregate of
2,777,777 units at a public offering price of $2.70 per unit resulting in gross proceeds
of approximately $7,500,000, before
deducting discount, commissions and estimated offering
expenses. Each unit issued was comprised of one share of common
stock (or common stock equivalent), one short-term warrant to
purchase one share of common stock and one long-term warrant to
purchase one share of common stock (collectively, a "warrant
combination"). The Company also granted the underwriters a 45-day
option to purchase up to an additional 416,666 shares of common
stock and/or additional 416,666 warrant combinations at the public
offering price per share and per warrant combination of
$2.70, before deducting underwriting
discounts and commissions.
H.C. Wainwright & Co. acted as the sole book-running manager
for the offering.
Each short-term warrant has an exercise price of $2.70 per share, is exercisable immediately and
terminates on December 31, 2020. Each
long-term warrant has an exercise price of $2.70 per share and is exercisable immediately
for five years from the issuance date. The shares of common stock
(or common stock equivalents), the short-term warrants and
long-term warrants comprising the units will be immediately
separable upon issuance and will be issued separately.
The securities described above were offered by the Company
pursuant to a registration statement (file no. 333-232273)
previously filed with and declared effective by the Securities and
Exchange Commission (the "SEC") on July
25, 2019. The offering was made only by means of a
prospectus forming part of the effective registration
statement. A final prospectus relating to the securities
being offered has been filed with the SEC and is available on the
SEC's website at www.sec.gov. Electronic copies of the final
prospectus relating to the offering may be obtained from H.C.
Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor,
New York, NY 10022, by telephone
at (646) 975-6996 or by email at placements@hcwco.com, or at the
SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Neuralstem, Inc.
Neuralstem is a clinical-stage biopharmaceutical company
developing novel treatments for nervous system diseases of high
unmet medical need. The Company has two lead development
candidates:
- NSI-566 is a stem cell therapy being tested for treatment of
paralysis in stroke, Amyotrophic Lateral Sclerosis (ALS) and
chronic spinal cord injury (cSCI)
- NSI-189, is a small molecule in clinical development for major
depressive disorder and in preclinical development for Angelman
syndrome, irradiation-induced cognitive impairment, diabetic
neuropathy, and stroke
Neuralstem's diversified portfolio of product candidates is
based on its proprietary neural stem cell technology.
Forward-Looking Statements
This news release contains "forward-looking statements"
made pursuant to the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements relate to future, not past, events and may often be
identified by words such as "expect," "anticipate," "intend,"
"plan," "believe," "seek" or "will." Forward-looking statements by
their nature address matters that are, to different degrees,
uncertain. Specific risks and uncertainties that could cause our
actual results to differ materially from those expressed in our
forward-looking statements include risks inherent in the
development and commercialization of potential products,
uncertainty of clinical trial results or regulatory approvals or
clearances, need for future capital, dependence upon collaborators
and maintenance of our intellectual property rights. Actual results
may differ materially from the results anticipated in these
forward-looking statements. Additional information on potential
factors that could affect our results and other risks and
uncertainties are detailed from time to time in Neuralstem's
periodic reports, including the Annual Report on Form 10-K for the
year ended December 31, 2018 and its
Quarterly Report on Form 10-Q for the three months ended
March 31, 2019, as well as the
Registration Statement (originally filed June 21, 2019, and subsequently amended and
supplemented) filed with the Securities and Exchange Commission
(SEC), and in other reports filed with the SEC. We do not assume
any obligation to update any forward-looking statements.
Investor Contact:
Hibiscus Bioventures
josh@hibiscusbio.com
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SOURCE Neuralstem, Inc.