Shares price at 32.2% discount to company’s closing price on Monday
By Susanna Moon
Chicago, May 3 – Neuralstem, Inc. said it priced its $8 million public offering of common stock and warrants with Roth Capital Partners as bookrunner. As announced May 2, the shares and warrants are immediately separable and will be issued separately.
Neuralstem will issue 20 million shares at $0.40 each and warrants for 20 million shares of common stock, according to a company press release.
The price is 32.2% discount to the company’s closing price on Monday.
The warrants are exercisable at $0.40 per share, are immediately exercisable and expire on the fifth anniversary of issue.
Proceeds will be used to fund regulatory, pre-clinical and clinical activities and for general corporate purposes, including working capital and the repayment of debt.
Neuralstem is a Germantown, Md.-based biopharmaceutical company focused on the development of central nervous system therapies based on its neural stem cell technology.
| Issuer: | Neuralstem, Inc.
|
| Issue: | Common stock
|
| Amount: | $8 million
|
| Shares: | 20 million
|
| Price: | $0.40
|
| Warrants: | For 20 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.40
|
| Bookrunner: | Roth Capital Partners
|
| Co-manager: | Brean Capital
|
| Announcement date: | May 2
|
| Pricing date: | May 3
|
| Settlement date: | May 6
|
| Stock symbol: | Nasdaq: CUR
|
| Stock price: | $0.59 at close May 2
|
| Market capitalization: | $31.94 million
|
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