GERMANTOWN, Md., July 25, 2019 /PRNewswire/ -- Neuralstem, Inc.
(Nasdaq: CUR) ("Neuralstem" or the "Company") today announced the
pricing of its underwritten public offering of an aggregate of
2,777,777 units at a public offering price of $2.70 per unit for gross proceeds of
approximately $7,500,000, before
deducting discount and commissions and estimated offering expenses.
Each unit is 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"). In addition,
the Company has 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, before deducting
underwriting discounts and commissions.
H.C. Wainwright & Co. is acting 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. This
offering is expected to close on or about July 30, 2019, subject to customary closing
conditions.
The net proceeds of the offering are expected to be
approximately $6.6 million, after
deducting underwriting discounts and commissions and estimated
offering expenses. The Company intends to use the net proceeds of
the offering for the further development of our stem cell and small
molecule assets, advancement of the Company's acquisition and
in-licensing strategy and general corporate purposes.
The securities described above are being 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 is being made only by means of
a prospectus forming part of the effective registration
statement. A preliminary 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 and a final
prospectus will be filed with the SEC. Electronic copies of the
final prospectus relating to the offering may be obtained, when
available, 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.