Neuralstem Announces Pricing of Public Offering of Common Stock and Warrants
July 27 2017 - 08:30AM
Neuralstem, Inc. (Nasdaq:CUR), a biopharmaceutical company
developing novel treatments for nervous system diseases, today
announced the pricing of an underwritten public offering of
3,000,000 shares of common stock and warrants to purchase up to
2,250,000 shares of common stock, at a purchase price of $2.00 per
share of common stock and accompanying warrant, with anticipated
gross proceeds of $6,000,000 before deducting underwriting
discounts and commissions and estimated offering expenses payable
by Neuralstem. The warrants are immediately exercisable at a price
of $2.00 per share of common stock and will expire on the seventh
anniversary of the date of issuance. The offering is expected to
close on or about August 1, 2017, subject to customary closing
conditions.
Canaccord Genuity is acting as sole book-running
manager for the offering.
The shares of common stock and warrants to purchase shares of
common stock described above are being offered pursuant to a shelf
registration statement previously filed with and declared effective
by the Securities and Exchange Commission (SEC). A preliminary
prospectus supplement and accompanying prospectus relating to the
offering has been filed with the SEC and is available for free on
the SEC’s website at www.sec.gov. A final prospectus supplement and
accompanying prospectus relating to the offering will be filed with
the SEC and will be available on the SEC’s website at www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to the offering, when available, may also be
obtained from Canaccord Genuity Inc., Attention: Equity Syndicate
Department, 99 High Street, 12th Floor, Boston, Massachusetts
02110, by telephone at (617) 371-3900, or by email at
prospectus@canaccordgenuity.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of Neuralstem’s securities. No
offer, solicitation or sale will be made in any state or other
jurisdiction in which such offering, solicitation or sale would be
unlawful.
About Neuralstem
Neuralstem is a clinical-stage biopharmaceutical company
developing novel treatments for nervous system diseases of high
unmet medical need. NSI-189 is the lead compound in Neuralstem’s
neurogenic small molecule program. NSI-566 is a stem cell
therapy being tested in stroke, chronic spinal cord injury (cSCI)
and Amyotrophic Lateral Sclerosis (ALS). Neuralstem’s
diversified portfolio of product candidates is based on its
proprietary neural stem cell technology.
Forward-Looking Statements
This press release contains "forward-looking statements" made
pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995, including statements regarding the
proposed public offering. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially, including market conditions, risks associated
with the cash requirements of our business and other risks detailed
from time to time in our filings with the SEC, and represent our
views only as of the date they are made and should not be relied
upon as representing our views as of any subsequent date. Such
forward-looking statements relate to future, not past, events and
may often be identified by words such as "expect," "anticipate,"
"intend," "estimate," "plan," "believe," "seek," "may" 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, 2016, and filed with the
Securities and Exchange Commission (SEC) on March 23, 2017, and in
other reports filed with the SEC. We do not assume any obligation
to update any forward-looking statements.
For further information, please contact:
Danielle Spangler
Director of Investor Relations, Neuralstem
301-366-1481
dspangler@neuralstem.com
Kimberly Minarovich
Argot Partners (Investor Relations)
212-600-1902
kimberly@argotpartners.com
Lori Rosen
LDR Communications (Public Relations)
917-553-6808
lori@ldrcommunications.com
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