Transaction Information
electroCore, Inc. (NASDAQ: ECOR) announced the closing of its previously announced underwritten public offering of 20,700,000 shares of its common stock at a price to the public of $1.00 per share, for gross proceeds of approximately $20.7 million, including the full exercise of the underwriters' over-allotment option to purchase additional shares of the company's common stock, prior to deducting underwriting discounts and commissions and offering expenses payable by the company. The company intends to use the net proceeds from the offering for general corporate purposes, including the continued investment in commercialization efforts.
The offering is made pursuant to a "shelf" registration statement on Form S-3 (File No. 333-232655) that was filed by the company with the Securities and Exchange Commission ("SEC") and was declared effective on September 5, 2019.
Ladenburg Thalmann & Co. Inc. acted as sole book-running manager in connection with the offering.
About electroCore, Inc.
electroCore, Inc. is a commercial stage bioelectronic medicine company dedicated to improving patient outcomes through its platform non-invasive vagus nerve stimulation therapy initially focused on the treatment of multiple conditions in neurology. The company's current indications are for the preventative treatment of cluster headache and migraine and acute treatment of migraine and episodic cluster headache.
The information and material presented is provided for informational purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or buy any securities mentioned herein.