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Neuralstem completes sale of stock

Neuralstem Inc., of Rockville, which develops products to treat central nervous system disorders with patented stem cell technology, announced the closing of a $20 million registered direct placement of approximately 6.87 million shares of common stock at a price of $2.91 per share.

Investors may also purchase an additional 3.43 million shares through the exercise of warrants priced at $3.64 per share, exercisable for five years from the issuance date.

Neuralstem will receive additional proceeds of approximately $12.5 million if all warrants are exercised.

Neuralstem said it intends to use proceeds to advance ongoing clinical trials, and for working capital and general corporate purposes.