electroCore to Acquire NeuroMetrix to Become Diversified Player in Non-Invasive Wellness Treatments

MT Newswires Live12-18

electroCore (ECOR) said Tuesday it agreed to acquire NeuroMetrix (NURO) along with its Quell platform, positioning itself as a "diversified, commercial-scale player in non-invasive health and wellness treatments."

Under the terms of the merger agreement, an electroCore subsidiary will merge with NeuroMetrix, making the latter a wholly owned subsidiary of electroCore.

NeuroMetrix shareholders will receive the equivalent of the balance of NeuroMetrix's net cash at closing, roughly $9 million. The shareholders will also receive one non-tradeable contingent value right per share of NeuroMetrix common stock.

The boards of both companies unanimously approved the transaction, which will likely close late in Q1.

Shares of electroCore slumped 6.7% in after-hours activity.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment