It's electric! Migraine device maker ElectroCore sets terms for $65 million IPO

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ElectroCore, which is commercializing a non-invasive nerve stimulation device for treating migraines, announced terms for its IPO on Tuesday.

The Basking Ridge, NJ-based company plans to raise $65 million by offering 4.3 million shares at a price range of $14 to $16. Insiders intend to purchase $20 million worth of shares in the offering. At the midpoint of the proposed range, ElectroCore would command a fully diluted market value of $419 million.

ElectroCore was founded in 2005 and booked $1 million in sales for the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol ECOR. Evercore ISI and JMP Securities are the joint bookrunners on the deal; Piper Jaffray was removed as lead left in the latest filing. It is expected to price during June 2018.

The article It's electric! Migraine device maker ElectroCore sets terms for $65 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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