electroCore, Inc. 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Our common stock is traded on the Nasdaq Market under the symbol “ECOR”. Stockholders As of March 8, 2021, there were 402 stockholders of record, which excludes stockholders whose shares are held in nominee or street name by brokers. Dividend Policy We do not anticipate paying any cash dividends in the foreseeable future. Equity Compensation Plans The information required by Item 5 of Form 10-K regarding equity compensation plans is incorporated herein by reference to Item 12 of Part III of this Annual Report. Issuer Purchases of Equity Securities We did not purchase any of our registered equity securities during the period covered by this Annual Report. Use of Proceeds from Registered Securities In June 2018, we completed our IPO and issued 5,980,000 shares of common stock, including the underwriter’s exercise of their right to purchase additional shares, at an initial offering price to the public of $15.00. We received net proceeds from the IPO of approximately $77.5 million, after deducting underwriting discounts and commissions and offering costs of approximately $12.2 million. Through December 31, 2020, we used the net proceeds as follows: (i) approximately $8.6 million to fund activities related to commercialization of our gammaCore products which included hiring additional territory business managers as well as patient and professional promotional activities across multiple media channels, (ii) approximately $5.4 million to fund expansion of our clinical program into additional indications in headache, (iii) approximately $4.4 million for the build out of our specialty distribution channel for the launch of gammaCore Sapphire, and (iv) approximately $59.1 million for working capital, including inventory, and other corporate purposes. Item 6. Selected Financial Data Not applicable. 78