Neuronetics Announces the Closing of up to $90 Million Senior Secured Credit Facility with Perceptive Advisors
MALVERN, Pa., July 30, 2024 (GLOBE NEWSWIRE) — Neuronetics, Inc. (NASDAQ:STIM), a medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders, today announced that it entered into a debt facility of up to $90 million with Perceptive Advisors LLC (Perceptive). Under the term loan, Neuronetics received the first tranche of $50 million at closing. Part of the initial $50 million tranche will be used to pay off, in full, the Company’s existing SLR Capital term loan. Upon achieving certain milestones, a second tranche of $15 million will be available until December 31, 2025. Under the third tranche, the Company can request to borrow $25.0 million on or before June 30, 2026.