electroCore announces 1-for-15 reverse stock split to regain Nasdaq compliance

electroCore, Inc.

Reverse stock split effective 12:01 a.m. ET on Feb 15, 2023; shares reduced from ~71.2M to ~4.74M.
Stockholders approved split range of 1-for-5 to 1-for-50 at Feb 13 special meeting; Board set 1-for-15.
Company appealed Nasdaq delisting notice (Dec 20, 2022) for bid price non-compliance; hearing held Feb 2, 2023.
Fractional shares will be cashed out based on Feb 14, 2023 closing price; CUSIP changes to 28531P202.
Option and warrant exercise prices adjusted proportionately; par value remains $0.001 per share.

item 3.03 item 5.03 item 5.07 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

electroCore, Inc.: Certificate of Amendment filed to effect a 1-for-15 reverse stock split of common stock (effective 2023-02-15).

Change: charter amendment
Effective: 2023-02-15

Exact text from the filing

On February 13, 2023, the Company filed a Certificate of Amendment to amend its Certificate of Incorporation (the “Certificate of Amendment”) with the Secretary of State of the State of Delaware to effect the Reverse Stock Split.

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Shareholder Votes SEC 8-K Item 5.07 confidence 1.0

electroCore, Inc. shareholders approved Reverse Stock Split Proposal at the 2023-02-13 meeting.

Proposal: reverse split
Outcome: passed
Meeting: 2023-02-13

Exact text from the filing

At the Special Meeting, the Reverse Stock Split Proposal was approved by the following vote: VOTES FOR VOTES AGAINST ABSTENTIONS BROKER NON-VOTES 35,177,971,546 1,498,143,215 385,996,846 n/a

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electroCore, Inc. filing history →

Source: SEC EDGAR

accession 0001193805-23-000223

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