Neuronetics prices IPO at $17 a share
Neuronetics (NASDAQ:STIM) priced its initial public offering of 5.5 million shares common shares at $17 each.
The company also granted underwriters a 30-day option to purchase up to an additional 825,000 shares at the same price to meet demand. The offering is scheduled to close on July 2.
Neuronetics is focused on patients who suffer from psychiatric disorders. It is also makes the NeuroStar Advanced Therapy System, the leading transcranial magnetic stimulation (TMS) treatment for major depressive disorder. The technology was cleared by the FDA in 2008.
Piper Jaffray and William Blair are serving as joint book-running managers for the offering. Canaccord Genuity is acting as lead manager and BTIG and JMP Securities as co-managers.