Neuronetics Prices $30 Million Stock Offering at $1.60 a Share

what happened

According to Reuters, Neuronetics has set the price of an underwritten public offering of 18.75 million common shares at $1.60 apiece. A GlobeNewswire press release states that gross proceeds should total about $30 million, before underwriting discounts and other offering expenses. The underwriters also received a 30-day option to buy up to 2.81 million additional shares at the same price. The offering is expected to close on or about November 12, 2026.

The company plans to use part of the proceeds to repay a portion of its term loan with Perceptive Credit Holdings IV, LP, with the rest going to general corporate purposes. On November 5, 2026, it also signed an amendment to its credit agreement that eases certain revenue covenants. The amendment requires a prepayment of at least $15 million and terminates if the conditions are not met by November 30, 2026. The company says that once those conditions are satisfied, the covenant relief should resolve the going concern risk flagged in its recent Form 10-Q filings.

why it matters

For investors, the key issue is dilution: 18.75 million new shares will meaningfully increase the number of shares outstanding. At the same time, the offering and covenant relief show the company trying to address its debt position and move past a going concern warning, which markets typically read as a sign of financial risk.

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