Neurala, Inc. announced a private placement of 6,115,324 series A-1 preferred shares at a price of $1.962283 per share for gross proceeds of $11,999,996 on May 21, 2020. The shares are convertible into common shares of the company at a fixed conversion price of $1.962283. The transaction will be raised at a post-money valuation of $58,218,609.

The company will issue securities pursuant to exemption provided under Regulation D.