electroCore, Inc. Enters into At The Market Offering Agreement with H.C. Wainwright & Co., LLC

On November 29, 2024, electroCore, Inc. announced that it has entered into an At The Market Offering Agreement with H.C. Wainwright & Co., LLC. Under this agreement, electroCore may offer and sell shares of its common stock, valued at up to $20,000,000, through H.C. Wainwright & Co., LLC, acting as the sales agent.

The Shares offered under this agreement will be shares of electroCore’s common stock, each with a par value of $0.001 per share. These Shares will be issued in accordance with electroCore’s previously filed and effective Registration Statement on Form S-3 (File No. 333-262223), which was initially filed with the Securities and Exchange Commission (SEC) on January 18, 2022, and declared effective on January 25, 2022.

The net proceeds received from this offering, if any, will be utilized by electroCore to support sales and marketing, working capital, and for other general corporate purposes. The Company clarified that they are not obligated to sell any Shares under this agreement. H.C. Wainwright & Co., LLC will act to sell the Shares based on electroCore’s instructions and within the parameters set by the Company.

The agreement also details that Wainwright may sell the Shares using any method permitted by law considered an “at the market offering” as defined in Rule 415(a)(4) of the Securities Act of 1933, as amended.

This agreement may be terminated by either party under certain circumstances, including a material adverse change in electroCore’s business or financial condition that may significantly impact Wainwright’s ability to sell the Shares. Additionally, the Company has agreed to pay Wainwright a commission of 3.0% of the gross proceeds from the sales.

For complete details of the agreement, reference should be made to the full text of the Sales Agreement, a copy of which is included as Exhibit 10.1 in the SEC filing. The opinion of electroCore’s counsel concerning the validity of the Shares that may be issued through this agreement is available as Exhibit 5.1.

It is important to note that this Current Report on Form 8-K does not constitute an offer to sell or a solicitation of an offer to buy Shares. It also emphasizes that there shall be no sale of Shares in any state or jurisdiction where such an offer or sale would be deemed unlawful under the securities laws without proper registration or qualification.

The company’s Chief Financial Officer, Joshua S. Lev, signed the report on behalf of electroCore, Inc.

This article is based on the 8-K SEC Filing of electroCore, Inc. for further factual information.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read electroCore’s 8K filing here.

About electroCore

electroCore, Inc, a commercial stage bioelectronic medicine and wellness company, provides non-invasive vagus nerve stimulation technology platform in the United States, the United Kingdom, and internationally. The company is developing gammaCore, a prescription only handheld device intended for regular or intermittent use for the acute treatment of pain associated with migraine and episodic cluster headache, as well as for the treatment of hemicrania continua and paroxysmal hemicrania.