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CUR > SEC Filings for CUR > Form 8-K on 23-May-2016All Recent SEC Filings

Show all filings for NEURALSTEM, INC.

Form 8-K for NEURALSTEM, INC.


23-May-2016

Costs Associated with Exit or Disposal Activities, Regulation FD Disclosure


Item 2.05. Costs Associated with Exit or Disposal Activities.

On May 20, 2016, Neuralstem, Inc. (the "Company"), in order to better utilize the Company's resources on the implementation of its refocused clinical and corporate strategy, committed to a cost-reduction plan. This cost-reduction plan includes a reduction in force across all of the Company's departments. The Company expects to complete the reduction in force, and to substantially complete the payment of any employee severance and benefits incurred as a result of such action by the end of the second quarter of 2016.

As a result of the reduction in force, the Company estimates that it will incur aggregate expenses of approximately $750,000 consisting of (i) cash payments of $700,000 for severance payments, expenses related to the closing of facilities and contingencies, and (ii) charges of $50,000 related to the vesting of options and extension of exercise periods of such options.



Item 7.01 Regulation FD Disclosure.

On May 19, 2016, we announced the reduction in force in a press release. A copy of the press release is attached to this report as Exhibit 99.01.

The information contained in this Item 7.01 to this Current Report on Form 8-K and the exhibit attached hereto pertaining to this item shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information or such exhibits be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The information set forth in the exhibits to this Form 8-K relating to this item 7.01 shall not be deemed an admission as to the materiality of any information in this report that is required to be disclosed solely to satisfy the requirements of Regulation FD.

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