electroCore raises $9.3M in equity/warrant offering with $5.645M from insiders

electroCore, Inc.

Gross proceeds of ~$9.3M from registered direct & private placements; directors/officers invested $5.645M.
Securities: 225K registered pre-funded warrants + 112.5K warrants; private placement: 1,208,310 shares/pre-funded warrants + 604,150 warrants.
Combined effective price $6.4925/share+1/2 warrant; warrants exercise at $6.43, expire in 5 years.
Net proceeds used for sales/marketing, working capital, and general corporate purposes.
Offerings priced at market under Nasdaq rules; expected to close June 5, 2024.

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