Neuronetics Announces Pricing of $18 Million Underwritten Public Offering of Common Stock

Company Overview - Neuronetics, Inc. is a global leader in neuroscience, focusing on mental health treatments, particularly through its NeuroStar Advanced Therapy, a non-drug, noninvasive treatment for neurohealth conditions [6][7] - The company operates Greenbrook TMS Inc. treatment centers across the United States, providing NeuroStar Therapy for major depressive disorder and other mental health disorders [6] Public Offering Details - Neuronetics has priced its underwritten public offering of 8,000,000 shares of common stock at a price of $2.25 per share, aiming for gross proceeds of approximately$18 million [1][2] - The underwriter has a 30-day option to purchase an additional 1,200,000 shares at the public offering price [2] - The net proceeds from the offering will be used for general corporate purposes, including sales and marketing, research and development, potential acquisitions, and working capital [2] Regulatory and Compliance - A shelf registration statement for the shares was filed with the U.S. Securities and Exchange Commission (SEC) on November 9, 2022, and was declared effective on November 14, 2022 [4] - The offering will be made via a prospectus supplement, with a final prospectus supplement to be filed with the SEC [4] Financial and Market Context - The offering is expected to close on or about February 10, 2025, subject to customary closing conditions [2] - Canaccord Genuity LLC is acting as the sole bookrunner for the offering [3]