MALVERN, Pa., July 02, 2018 (GLOBE NEWSWIRE) -- Neuronetics, Inc., a commercial-stage medical device company focused on designing, developing, and manufacturing products that improve the quality of life for patients who suffer from psychiatric disorders and the maker of the NeuroStar® Advanced Therapy System, a non-drug, office-based therapy cleared by the FDA in 2008 to treat adult patients with Major Depressive Disorder who have not seen success with at least one antidepressant medication in the current episode, announced today the closing of its initial public offering of 6,325,000 shares of its common stock, including the exercise in full of the underwriters’ option to purchase 825,000 additional shares of common stock, at a public offering price of $17.00 per share. The aggregate gross proceeds to Neuronetics from the offering were $107.5 million, before deducting underwriting discounts and offering expenses. All of the shares in the offering were offered by Neuronetics. Neuronetics’ common stock is listed on the Nasdaq Global Market under the ticker symbol “STIM.”
Piper Jaffray & Co. and William Blair & Company, L.L.C. served as joint book-running managers for the offering. Canaccord Genuity LLC acted as lead manager for the offering, and BTIG, LLC and JMP Securities LLC acted as co-managers for the offering.
About Neuronetics
Neuronetics is 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. Our first commercial product, the NeuroStar Advanced Therapy System, is a non-invasive and non-systemic office-based treatment that uses transcranial magnetic stimulation, or TMS, to create a pulsed, MRI-strength magnetic field that induces electrical currents designed to stimulate specific areas of the brain associated with mood. The system is cleared by the United States Food and Drug Administration, or FDA, to treat adult patients with major depressive disorder, or MDD, that have failed to achieve satisfactory improvement from prior antidepressant medication in the current episode.
