Markets

Fighting depression with magnets: Neuronetics files for an $86 million IPO

Neuronetics, which sells a medical system that uses magnetic stimulation to relieve depression, filed on Thursday with the SEC to raise up to $86 million in an initial public offering.

The Malvern, PA-based company was founded in 2003 and booked $43 million in sales for the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol STIM. Neuronetics filed confidentially on March 16, 2018. Piper Jaffray and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Fighting depression with magnets: Neuronetics files for an $86 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

IPOs

Latest Markets Videos