Neuronetics prices 8M shares at $2.25 in underwritten public offering

Neuronetics (STIM) has priced its previously announced underwritten public offering of its common stock, comprised of 8,000,000 shares of common stock at a public offering price of $2.25 per share, resulting in gross proceeds of approximately $18M before deducting underwriting discounts and commissions and other offering expenses payable by the Company. The Company has also granted to the underwriter a 30-day option to purchase up to an additional 1,200,000 shares of common stock at the public offering price per share, less underwriter discounts and commissions. All of the shares in the offering are being sold by the Company. The Company currently intends to use the net proceeds of this offering for general corporate purposes, including but not limited to sales and marketing, research and development activities, financing of potential acquisitions or establishment of healthcare practices, purchases of inventory, general and administrative matters, working capital and capital expenditures. The offering is expected to close on or about February 10, 2025, subject to the satisfaction of customary closing conditions. Canaccord Genuity is acting as sole bookrunner in connection with the offering.