Neuronetics (STIM) said Friday it priced its previously announced public offering of eight million shares at $2.25 per share, raising about $18 million in gross proceeds.
The company also granted the underwriter a 30-day option to purchase an additional 1.2 million shares.
Proceeds from the offering, expected to close on Feb. 10, will be used for various corporate purposes, including sales, marketing, R&D, potential acquisitions, inventory, and capital expenditures.
Shares of the company fell 32% in recent premarket activity.
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