ROCKAWAY, N.J., June 03, 2024 (GLOBE NEWSWIRE) -- electroCore, Inc. (NASDAQ:ECOR) ("electroCore" or the "Company"), a commercial-stage bioelectronic medicine and wellness company, today announced that it has agreed to issue and sell to an institutional accredited investor an aggregate of 225,000 registered pre-funded warrants to purchase shares of common stock and unregistered warrants to purchase up to an aggregate of 112,500 shares of common stock. The pre-funded warrants were sold at a purchase price of $6.43 minus $0.001 per pre-funded warrant, and are exercisable immediately at an exercise price of $0.001 per share. Each share of common stock is being sold together with one-half of one warrant at a combined effective offering price of $6.4925 per share and related warrant. The warrants will be immediately exercisable after the date of issuance at a price of $6.43 per share and will expire five years after issuance. In a separate private placement, electroCore has also agreed to issue and sell 1,208,310 of its shares of common stock (or pre-funded warrants to purchase common stock) and 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. Each share of common stock (or pre-funded warrant) is being sold together with one-half of one warrant at a combined effective offering price of $6.4925 per share and related warrant. The warrants issued and sold in private placement will have the same terms as the unregistered warrants sold to the institutional accredited investor in the registered direct offering. The aggregate gross proceeds to the Company from the issuance and sale of the securities described above is expected to be approximately $9.3 million, before deducting other offering expenses payable by electroCore. Directors and officers of electroCore entered into agreements to invest $5.645 million of the aggregate gross proceeds. The Company currently intends to use the net proceeds from these sales for sales and marketing, working ...