Bioelectronic company electroCore has raised about USD 9.3 million by selling pre-funded warrants and common stock to institutional investors. A portion of this funding, ~USD 5.645 million, has been invested by directors and officers of the company. The transactions are expected to close by June 5, 2024.
The new funds will expand sales and marketing initiatives, improve working capital, and support general corporate purposes.
electroCore specializes in noninvasive vagus nerve stimulation technology aimed at enhancing consumers' health and general well-being. Its devices are currently commercialized for the management and treatment of specific medical conditions in the US and some overseas markets.
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