Core Viewpoint - NeuroMetrix, Inc. has entered into a definitive merger agreement with electroCore, Inc., which is expected to close in late Q1 2025, allowing NeuroMetrix shareholders to receive cash and contingent value rights [1][2][4] Group 1: Merger Details - A subsidiary of electroCore will merge with NeuroMetrix, making NeuroMetrix a wholly owned subsidiary of electroCore [2] - NeuroMetrix estimates that shareholders will receive approximately $9 million in net cash at closing, subject to adjustments for transaction expenses and liabilities [2] - Shareholders will also receive one non-tradeable contingent value right (CVR) per share, entitling them to future net proceeds from the divestiture of the DPNCheck platform and royalties on Quell product sales, capped at $500,000 [3] Group 2: Strategic Implications - The merger is seen as a positive outcome for NeuroMetrix shareholders, allowing for efficient cash return and potential upside through the CVR [4] - The transaction is expected to enhance patient access to Quell wearable neuromodulation technology through electroCore's commercial channels [4] - NeuroMetrix plans to divest the DPNCheck platform to ensure continued benefits for patients and physicians [4] Group 3: Company Background - NeuroMetrix develops neurotechnology devices targeting chronic pain and diabetes, with products including the Quell neuromodulation platform and DPNCheck screening test [5] - electroCore focuses on non-invasive vagus nerve stimulation technology for medical conditions and wellness products [6]
NeuroMetrix to be Acquired by electroCore