MALVERN, PA — Neuronetics, Inc. (NASDAQ: STIM) today announced the pricing of its underwritten public offering of 8,000,000 shares of common stock at $2.25 per share. The offering is expected to generate approximately $18 million in gross proceeds before underwriting discounts, commissions, and related expenses.
The company has also granted the underwriter, Canaccord Genuity LLC, a 30-day option to purchase up to an additional 1,200,000 shares at the same offering price, less applicable discounts and commissions. The offering is anticipated to close on or about February 10, 2025, subject to customary conditions.
Neuronetics plans to use the net proceeds for various corporate needs, including expanding sales and marketing efforts, advancing research and development programs, financing acquisitions or healthcare practices, supporting working capital, and sourcing inventory and capital expenditures.
Strategic Financial Positioning
This financing aims to strengthen Neuronetics’ operational foundation, allowing the company to pursue its growth initiatives and enhance its competitive positioning in the neurohealth market. The successful execution of this offering reflects investor confidence in the company’s potential to achieve its strategic objectives and create long-term shareholder value.
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