electroCore Announces $9.3M Registered Direct Offering Of One Share Of Common Stock, Being Sold Together With One-Half Of One Warrant At A Combined Effective Offering Price Of $6.4925; Conducts Separate Concurrent Private Placements Priced At Market Under Nasdaq Rules
Portfolio Pulse from Benzinga Newsdesk
electroCore has announced a $9.3 million registered direct offering of one share of common stock, sold together with one-half of one warrant at a combined effective offering price of $6.4925. Additionally, the company is conducting separate concurrent private placements priced at market under Nasdaq rules.
June 03, 2024 | 12:52 pm
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electroCore has announced a $9.3 million registered direct offering of common stock and concurrent private placements. The offering price is set at $6.4925 per share with one-half warrant.
The announcement of a registered direct offering typically leads to a short-term decrease in stock price due to dilution concerns. The offering price of $6.4925 per share with one-half warrant may also be seen as a discount, further pressuring the stock price.
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