Neuronetics Inc. is looking to raise up to $86.3 million in an IPO of its common stock.
The company intends to list its common shares on the Nasdaq Global Market under the STIM symbol.
The Malvern, Pa.-based medical technology company develops and markets non-invasive treatments for depression and other chronic psychiatric and neurological disorder using transcranial magnetic stimulation.
Neuronetics will use the net proceeds from the offering to commercialize its NeuroStar Advanced Therapy System, fund research and development activities, as well as for general corporate purposes such as administrative expenses and working capital.
Piper Jaffray & Co., William Blair & Co. LLC, Canaccord Genuity LLC, BTIG LLC and JMP Securities LLC are acting as underwriters in the IPO.
