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Neuronetics: Announces Closing of Initial Public Offering and the Exercise in Full of the Underwriters’ Option to Purchase Additional Shares

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Neuronetics: Announces Closing of Initial Public Offering and the Exercise in Full of the Underwriters’ Option to Purchase Additional Shares Jul 2018

Neuronetics, Inc., Maker of NeuroStar® Advanced Therapy, Announces Closing of Initial Public Offering and the Exercise in Full of the Underwriters’ Option to Purchase Additional Shares

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.

The shares were offered by Neuronetics only by means of a prospectus. Copies of the final prospectus relating to this offering can be obtained from Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, via telephone at (800) 747-3924 or via email at prospectus@pjc.com, or from 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 prospectus@williamblair.com.

A registration statement on Form S-1 relating to these securities was filed with the U.S. Securities and Exchange Commission and was declared effective on June 27, 2018.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction 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.

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.

For more information, please contact:
Leanne Scott Brown
Vault Communications
610.455.2742
lbrown@vaultcommunications.com

 

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