electroCore, Inc. (NASDAQ: ECOR) shares began Thursday, as the company, a commercial-stage bioelectronic medicine and wellness company, today announced the closing of its previously announced registered direct offering of 225,000 registered pre-funded warrants to purchase shares of common stock to an institutional accredited investor; the concurrent private placement of unregistered common stock warrants to purchase up to 112,500 shares of common stock to the investor; and the separate private placement of an aggregate of 1,208,310 shares of common stock (or pre-funded warrants to purchase common stock) and common stock warrants to purchase up to an aggregate of 604,150 shares of common stock, to certain institutional and accredited investors and directors and officers of the Company.
All pre-funded warrants were sold at a purchase price of $6.43, minus $0.001 per pre-funded warrant, and are exercisable immediately at a price of $0.001 per share. All shares of common stock were sold at a purchase price of $6.43 per share. Each pre-funded warrant was sold together with one-half of one common stock warrant at a combined effective offering price of $6.4925, minus $0.001. Each share of common stock was sold together with one-half of one common stock warrant at a combined effective offering price of $6.4925. Each common stock warrant is immediately exercisable at a price of $6.43 per share and expires five years after issuance.
ECOR shares gained six cents to $6.69.
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