Neuronetics Completes Acquisition of Greenbrook TMS – SEC Filing Conversion to News Article

Neuronetics, a company listed on the Nasdaq Global Market under the ticker symbol STIM, recently disclosed details of its completed acquisition of Greenbrook TMS Inc. through an 8-K filing with the Securities and Exchange Commission (SEC). The acquisition involved the arrangement agreement entered into back on August 11, 2024, and was officially effective on December 9, 2024.

The company announced that each Greenbrook Share outstanding just before the effective time of the arrangement was converted into the right to receive 0.01021 of a share of Neuronetics’ common stock. Alongside this acquisition, various agreements and amendments were made, including a Credit Agreement and Guaranty with Perceptive Credit Holdings IV, LP, and a Warrant Certificate, granting the right to acquire 600,000 shares of Neuronetics’ common stock.

Key changes following the acquisition included the appointment of two new directors to Neuronetics’ board, Sasha Cucuz and Avinash Amin, M.D. Sasha Cucuz, the CEO of Greybrook Securities Inc., brings extensive financial and managerial experience to the table. Avinash Amin, MD, Managing Partner at Madryn Asset Management, LP, adds a medical background and financial services expertise to the board.

Furthermore, Neuronetics amended its Ninth Amended and Restated Certificate of Incorporation to increase its authorized shares of common stock from 200,000,000 to 250,000,000. The company also announced the completion of the acquisition in a press release issued on December 10, 2024.

Neuronetics highlighted plans to enhance patient access to mental health treatments and strengthen revenue bases through this combined entity. The press release also announced that the Greenbrook Shares would be delisted and further steps would be taken to terminate Greenbrook’s public reporting requirements. The company aims to leverage Greenbrook’s treatment centers and offerings to advance its mental health care mission.

Advisors involved in the transaction include Canaccord Genuity and Ballard Spahr LLP for Neuronetics, and A.G.P./Alliance Global Partners and Torys LLP for Greenbrook. Neuronetics will provide additional financial statements and pro forma financial information related to the acquisition within the required time frames following the filing of the 8-K report.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Neuronetics’s 8K filing here.

Neuronetics Company Profile

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with neurohealth disorders in the United States and internationally. The company offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment to treat adult patients with major depressive disorder.