electroCore completes sale of New Jersey tax benefits

electroCore announced that it has completed the sale of its available tax benefits through the New Jersey Economic Development Authority’s Technology Business Tax Certificate Transfer program. As a result, the Company has received approximately $211,000 in non-dilutive cash from the sale of these net operating loss, NOL, tax benefits. "We appreciate the support from the state of New Jersey through its NOL program, which we have benefited from over the past few years," stated, Brian Posner, Chief Financial Officer of electroCore. "This non-dilutive funding will continue supporting us as we invest in our growing business. We appreciate the support of New Jersey state leadership and the New Jersey Economic Development Authority, which has provided us with approximately $2.7 million of non-dilutive funding over the last three years."