Attached files
file | filename |
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8-K - PALISADE BIO, INC. | v189359_8k.htm |
EX-1.02 - PALISADE BIO, INC. | v189359_ex1-02.htm |
EX-4.01 - PALISADE BIO, INC. | v189359_ex4-01.htm |
EX-5.01 - PALISADE BIO, INC. | v189359_ex5-01.htm |
EX-1.01 - PALISADE BIO, INC. | v189359_ex1-01.htm |
EX-10.01 - PALISADE BIO, INC. | v189359_ex10-01.htm |
Contact:
Meg
McElroy, Shareholder Relations
|
301.366.4960
|
Deanne
Eagle, Planet Communications, Media
|
917.837.5866
|
NEURALSTEM TO
RAISE $10 MILLION IN REGISTERED DIRECT OFFERING
ROCKVILLE, Maryland, June 25,
2010 – Neuralstem, Inc. (NYSE Amex: CUR) announced today that it has
entered into definitive agreements to sell $10 million of units at $2.80 per
unit in a registered-direct offering to institutional investors. The units
consist of: (i) one share of common stock, and (ii) ¾ common stock purchase
warrant. The warrants have an exercise price of $3.25 and a term of
three years. Neuralstem will receive gross proceeds of $10,000,000.00 before
deducting placement agent fees and other offering expenses. The offering is
expected to close on June 29, 2010, subject to customary closing
conditions.
Neuralstem
intends to use the net proceeds from the offering for working capital and
general corporate purposes.
The
shares are being offered and sold pursuant to a shelf registration statement
relating to the offering. A prospectus supplement relating to the
offering of the shares, warrants and shares underlying the warrants will be
filed with the SEC.
Noble
Financial Capital Markets acted as the sole placement agent for the
offering.
This
press release does not constitute an offer to sell or the solicitation of an
offer to buy the shares of common stock. Furthermore, Neuralstem will not sell
any of the shares of common stock and has been advised by Noble Financial
Capital Markets that it will not sell any of the shares of common stock in any
state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification of the shares under the
securities laws of any such state or jurisdiction. Any offer will be made only
by means of a prospectus, including a prospectus supplement, forming a part of
the effective registration statement. Copies of the final prospectus supplement
together with the accompanying prospectus can be obtained at the SEC's website
at http://www.sec.gov
or from Noble Financial Capital Markets, 6501 Congress Avenue, Boca Raton, FL
33487.
About
Neuralstem
Neuralstem's
patented technology enables, for the first time, the ability to produce neural
stem cells of the human brain and spinal cord in commercial quantities, and the
ability to control the differentiation of these cells into mature,
physiologically relevant human neurons and glia. The company is targeting major
central nervous system diseases including: Ischemic Spastic Paraplegia,
Traumatic Spinal Cord Injury, Huntington’s disease and Amyotrophic Lateral
Sclerosis (ALS), often referred to as Lou Gehrig's disease. ALS is a progressive
fatal neurodegenerative disease that affects nerve cells in the brain, leading
to the degeneration and death of the motor neurons in the spinal cord that
control muscle movement. Neuralstem is in a Phase I clinical trial to treat
ALS. For more information, please go to
www.neuralstem.com.
Cautionary Statement Regarding
Forward Looking Information
This news
release may contain forward-looking statements made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements in this press
release regarding potential applications of Neuralstem's technologies constitute
forward-looking statements that involve risks and uncertainties, including,
without limitation, 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, 2009, and in it’s quarterly report on Form 10-Q for the period
ended March 31, 2010.
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