electroCore raises ~$8.1M in registered direct offering and private placements priced at $4.4125/unit

electroCore, Inc.

Gross proceeds to electroCore expected to be approximately $8.145 million before fees and expenses.
Combined effective offering price of $4.4125 per share and one-half warrant; warrants exercisable at $4.35.
Includes 169,968 shares sold to certain officers and directors in a concurrent private placement.
Closing expected on or about August 2, 2023; net proceeds for sales & marketing, working capital.
Company had $8.7M cash as of June 30, 2023; offering nearly doubles pro forma cash balance.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

electroCore, Inc. entered into Registered Direct Purchase Agreement with certain institutional and accredited investors valued at $4.4125 per share and related warrant (effective 2023-07-31).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional and accredited investors
Value: $4.4125 per share and related warrant
Effective: 2023-07-31

Exact text from the filing

On July 31, 2023, electroCore, Inc. (“Company”) entered into a securities purchase agreement (the “Registered Direct Purchase Agreement”) with certain institutional and accredited investors (the “Purchasers”)

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electroCore, Inc. filing history →

Source: SEC EDGAR

accession 0001193805-23-001031

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