Neuralstem (CUR) Raises $1 Million in Registered Direct Offering
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Neuralstem, Inc. (Amex: CUR) announced that Vicis Capital Master Fund has purchased 800,000 shares of Neuralstem common stock at $1.25 per share, reflecting an approximate 20% premium to the closing price of the stock on Monday, June 29. The Company also issued to Vicis warrants to purchase 2.4 million shares of Neuralstem common stock at $1.25 a share, a third of which must be exercised within a year from the date of issuance, a third within three years, and the final third within five years from the date of issuance. Neuralstem plans to use these proceeds for working capital.
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