ElectroCore (ECOR) said Friday it completed its merger with NeuroMetrix (NURO), gaining ownership of the Quell Fibromyalgia Solution platform.
As part of the merger agreement, NeuroMetrix shareholders received $4.49 in cash per share along with a contingent value right linked to future sales milestones of the Quell business and potential proceeds from the sale of NeuroMetrix's DPNCheck business, the company said.
Following the merger, NeuroMetrix became an indirect wholly owned subsidiary of electroCore, and its shares were delisted from Nasdaq on Friday.
Shares of electroCore were up 11% in recent trading.
Price: 8.40, Change: +0.83, Percent Change: +10.96
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