MALVERN, PA — Neuronetics, Inc. (NASDAQ: STIM), a commercial-stage medical technology company focused on designing, developing and marketing products that improve the quality of life for patients who suffer from psychiatric disorders, announced the closing of an underwritten public offering of 5,566,000 shares of its common stock on Tuesday, including the exercise in full by the underwriters of their option to purchase up to an additional 726,000 shares of common stock, at a public offering price of $15.50 per share. Net proceeds from the offering were approximately $80.6 million, after deducting the underwriting discounts and commissions and other estimated offering expenses payable by the Company.
The Company currently intends to use the net proceeds from this offering for general corporate purposes, including working capital, research and development, marketing and evaluating new clinical indications.
Piper Sandler & Co. and William Blair & Company, L.L.C. acted as joint book-running managers for the offering. Canaccord Genuity LLC acted as a lead manager for the offering.
The offering was made pursuant to a “shelf” registration statement on Form S-3 (File No. 333-233047) that became effective with the Securities and Exchange Commission (“SEC”) on August 15, 2019, and the base prospectus contained therein. A final prospectus supplement relating to the offering was filed by the Company with the SEC. Copies of the registration statement, the final prospectus supplement and the accompanying base prospectus may be obtained on the SEC’s website at http://www.sec.gov or by contacting: Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924, or by email at [email protected], or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606; via telephone at (800) 621-0687 or via email at [email protected]
The Company’s announcement is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any securities of the Company, nor will there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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