electroCore Announces Closing of Initial Public Offering

electroCore (Nasdaq:ECOR) today announced the closing of its initial public offering of 5,200,000 shares of common stock at a public offering price of $15.00 per share. The proceeds from this offering, net of underwriting discounts and commissions, are approximately $72,540,000.

As quoted in the press release:

In addition, electroCore has granted the underwriters a 30‑day option to purchase up to an additional 780,000 shares of common stock at the initial public offering price less discounts and commissions.  All shares of common stock in the offering were sold by electroCore.

electroCore’s common stock began trading on the Nasdaq Global Market on June 22, 2018 under the symbol ECOR.

Evercore ISI, Cantor Fitzgerald & Co. and JMP Securities acted as joint book-running managers for the offering. BTIG, LLC acted as lead manager.

Click here to read the full press release.