Neuronetics Inc. (STIM) Prices 4.84M Share Common Offering at $15.50/Sh

Neuronetics, Inc. (NASDAQ: STIM) today announced that it has priced the previously announced underwritten public offering of 4,840,000 shares of its common stock, at a public offering price of $15.50 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 726,000 shares of its common stock. The gross proceeds to the Company from this offering are expected to be approximately $75.0 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by the Company. The offering is expected to close on or about February 2, 2021, subject to satisfaction of customary closing conditions.

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. are acting as joint book-running managers for the offering. Canaccord Genuity LLC is acting as a lead manager for the offering.

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