Commercial-stage bioelectronic medicine and wellness company electroCore (NASDAQ:ECOR) will issue and sell to certain institutional and accredited investors an aggregate of 1.68M shares and warrants to purchase up to an aggregate of 837,955 shares.
Each share of common stock is being sold together with one-half of one warrant at a combined effective offering price of $4.4125 per share and related warrant.
The warrants will be exercisable commencing six months after the date of issuance at a price of $4.35 per share and will expire five years after they first become exercisable.
Gross proceeds are expected to be ~$8.145M.
Net proceeds from these sales for sales and marketing, working capital and general corporate purposes.
The offerings described above are expected to close on or about August 2, 2023.
electroCore announces $8.1M direct offering
