GERMANTOWN, Md., May 12, 2016 /PRNewswire/ -- Neuralstem,
Inc. (Nasdaq: CUR), a biopharmaceutical company focused on the
development of central nervous system therapies based on its neural
stem cell technology, today announced that it has entered into a
definitive agreement to sell 2,700,000 shares of its common stock
and warrants to purchase 2,700,000 shares of common stock in a
private placement. The securities are being sold in a private
offering at a price of $0.40 per one
share of common stock and one common stock purchase warrant. The
warrants have an exercise price of $0.40 per share, are immediately exercisable and
expire on the fifth anniversary of the date of issuance. The shares
of common stock and warrants are immediately separable and will be
issued separately.
Roth Capital Partners acted as financial advisor. After fees and
estimated offering expenses payable by the company, the company
expects to receive net proceeds of approximately $1.03 million. The offering is expected to close
on or around May 24, 2016, subject to
customary closing conditions.
The securities offered in the private placement have not been
registered under the Securities Act of 1933, as amended, or under
applicable state securities laws. Accordingly, the securities may
not be offered or sold in the United
States except pursuant to an effective registration
statement or an applicable exemption from the registration
requirements of the Securities Act and such applicable state
securities laws.
This notice does not constitute an offer to sell or the
solicitation of an offer to buy the securities, nor shall there be
any sale of the securities in any state in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state.
For further details of the offering, please refer to the
company's Current Report on Form 8-K to be filed with the United
States Securities and Exchange Commission. The information
contained herein is qualified in its entirely by such Current
Report, included the exhibit attached thereto.
About Neuralstem
Neuralstem's patented technology enables the commercial-scale
production of multiple types of central nervous system stem cells,
which are being developed as potential therapies for multiple
central nervous system diseases and conditions.
Neuralstem's ability to generate neural stem cell lines from
human hippocampus, which were used for systematic chemical
screening for neurogenesis effect, has led to the discovery and
patenting of molecules that Neuralstem believes may stimulate the
brain's capacity to generate new neurons, potentially reversing
pathophysiologies associated with certain central nervous system
(CNS) conditions.
The Company has completed Phase 1a and 1b trials evaluating
NSI-189, its first neurogenic small molecule product candidate, for
the treatment of major depressive disorder (MDD), and is currently
conducting a Phase 2 efficacy study for MDD.
Neuralstem's first stem cell product candidate, NSI-566 is a
spinal cord-derived neural stem cell line. The Company completed
two dose-escalation safety studies for the treatment of amyotrophic
lateral sclerosis (ALS), in a total of thirty patients, which met
primary safety endpoints. In addition, a Phase 1
investigational study to treat paralysis due to chronic spinal cord
injury was recently completed and an investigational Phase 1 study
to treat paralysis from ischemic stroke is ongoing.
Cautionary Statement Regarding Forward Looking
Information
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, 2015, and Form 10-Q for the three
months ended March 31, 2016, 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.
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SOURCE Neuralstem, Inc.