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Neuralstem to conduct stock offering

Neuralstem Inc., of Rockville, a biotherapeutic company developing products to treat central nervous system disorders with patented stem cell technology, said it will sell more than 6.75 million shares of common stock, priced at $2.91 per share, to certain institutional investors in a registered direct placement, with anticipated gross proceeds of approximately $19.65 million.

The company also will issue to each investor a warrant to purchase a number of shares of common stock equal to one-half of the number of shares purchased by the investor in the offering.

The warrants have an exercise price of $3.64 per share, and are exercisable for a five-year period from the issuance date. The offering is expected to close on Wednesday.