By Chris Wack
Neuronetics shares were down 12% to $3.15 after the company priced a previously announced $18 million, underwritten public offering.
The neuroscience company said the offering is comprised of 8 million shares of stock at $2.25 a share, before deducting underwriting discounts and commissions and other offering expenses.
The company has also granted to the underwriter a 30-day option to buy up to an additional 1.2 million shares at the public offering price per share, less underwriter discounts and commissions.
All of the shares in the offering are being sold by the company.
Neuronetics intends to use the proceeds of this offering for general corporate purposes, including but not limited to sales and marketing, research and development activities, and capital expenditures.
The offering is expected to close on or about Monday.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 07, 2025 10:28 ET (15:28 GMT)
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