GlobeNewswire Inc | Feb 2, 2021 04:05PM EST

February 02, 2021

MALVERN, Pa., Feb. 02, 2021 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ: STIM) (the Company), 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, today announced the closing of an underwritten public offering of 5,566,000 shares of its common stock, including the exercise in full by the underwriters of their option to purchase up to an additional 726,000 shares of common stock, at a public offering price of $15.50 per share. Net proceeds from the offering were approximately $80.6 million, after deducting the underwriting discounts and commissions and other estimated offering expenses payable by the Company.

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

The offering was made pursuant to a shelf registration statement on Form S-3 (File No. 333-233047) that became effective with the Securities and Exchange Commission (SEC) on August 15, 2019 and the base prospectus contained therein. A final prospectus supplement relating to the offering was filed by the Company with the SEC. Copies of the registration statement, the final prospectus supplement and the accompanying base prospectus may be obtained on the SECs website at http://www.sec.gov or by contacting: Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924, or by email at prospectus@psc.com, or 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.

This announcement is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy any securities of the Company, nor will there be any sale of these securities in any state 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 NeuroneticsNeuronetics, Inc. 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. Its 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, for the treatment of major depressive disorder in adult patients who have failed to achieve satisfactory improvement from prior antidepressant medication in the current episode. NeuroStar is also available in other parts of the world, including Japan, where it is listed under Japans national health insurance. Additional information can be found at www.neuronetics.com.

Safe harbor statement under the Private Securities Litigation Reform Act of 1995:Statements in the press release regarding Neuronetics, Inc. (the Company) that are not historical facts, including with respect to the offering and the intended use of the proceeds of the offering, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terms such as outlook, potential, believe, expect, plan, anticipate, predict, may, will, could, would and should as well as the negative of these terms and similar expressions. These statements are subject to significant risks and uncertainties and actual results could differ materially from those projected. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this release. These risks and uncertainties include, without limitation, risks and uncertainties related to: the impact of COVID-19 on general political and economic conditions, including as a result of efforts by governmental authorities to mitigate COVID-19, such as travel bans, shelter in place orders and third-party business closures and the related impact on resource allocations, manufacturing and supply chains and patient access to commercial products; the Companys ability to execute its business continuity, operational and budget plans in light of the COVID-19 outbreak; the Companys ability to achieve or sustain profitable operations due to its history of losses; the Companys reliance on the sale and usage of its NeuroStar Advanced Therapy System to generate revenues; the scale and efficacy of the Companys salesforce; availability of coverage and reimbursement from third-party payors for treatments using the Companys products; physician and patient demand for treatments using the Companys products; developments in respect of competing technologies and therapies for the indications that the Companys products treat; product defects; the Companys ability to obtain and maintain intellectual property protection for its technology; developments in clinical trials or regulatory review of NeuroStar Advanced Therapy System for additional indications; and developments in regulation in the United States and other applicable jurisdictions. For a discussion of these and other related risks, please refer to the Companys recent SEC filings which are available on the SECs website at www.sec.gov. These forward-looking statements are based on the Companys expectations and assumptions as of the date of this press release. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events or changes in the Companys expectations.

Investor Contact:Mark R. KlausnerWestwicke Partners443-213-0501ir@neuronetics.com

Media Contact:Chelsey MankoVault Communications610-455-2778cmanko@vaultcommunications.com