Neuronetics, Inc. Enters and Terminates Agreements
Ticker: STIM · Form: 8-K · Filed: Jul 30, 2024 · CIK: 1227636
| Field | Detail |
|---|---|
| Company | Neuronetics, Inc. (STIM) |
| Form Type | 8-K |
| Filed Date | Jul 30, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.01, $60.0 million, $90.0 million, $50.0 m, $15.0 m |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation, agreement-termination
TL;DR
Neuronetics just signed and axed some major deals, plus took on new debt. Big moves happening.
AI Summary
On July 25, 2024, Neuronetics, Inc. entered into a Material Definitive Agreement and also terminated a Material Definitive Agreement. The company also created a direct financial obligation or an obligation under an off-balance sheet arrangement. Specific details regarding the nature of these agreements and obligations were not provided in the filing excerpt.
Why It Matters
This filing indicates significant changes in Neuronetics' contractual relationships and financial obligations, which could impact its future operations and financial health.
Risk Assessment
Risk Level: medium — The filing indicates significant changes in agreements and financial obligations, which introduces uncertainty about the company's strategic direction and financial stability.
Key Players & Entities
- Neuronetics, Inc. (company) — Registrant
- July 25, 2024 (date) — Date of earliest event reported
FAQ
What was the nature of the Material Definitive Agreement entered into by Neuronetics, Inc. on July 25, 2024?
The filing excerpt does not specify the nature of the Material Definitive Agreement entered into.
What was the reason for the termination of a Material Definitive Agreement by Neuronetics, Inc. on July 25, 2024?
The filing excerpt does not provide the reason for the termination of the Material Definitive Agreement.
What type of direct financial obligation or off-balance sheet arrangement did Neuronetics, Inc. create?
The filing excerpt does not detail the specific type of financial obligation or arrangement created.
Are there any financial implications mentioned for these new agreements and obligations?
The provided excerpt does not contain specific financial figures or implications related to the agreements and obligations.
Does this filing indicate any change in Neuronetics' business strategy?
While the filing indicates significant contractual and financial changes, the specific impact on business strategy is not detailed in the excerpt.
Filing Stats: 1,564 words · 6 min read · ~5 pages · Grade level 12.2 · Accepted 2024-07-30 08:52:30
Key Financial Figures
- $0.01 — ange on which registered Common Stock ($0.01 par value) STIM The Nasdaq Global M
- $60.0 million — ") that replaced the Company's previous $60.0 million credit facility with SLR Investment Cor
- $90.0 million — to borrow up to an aggregate amount of $90.0 million in three tranches of term loans, a "Tra
- $50.0 m — Company borrowed an aggregate amount of $50.0 million, which was the aggregate amount a
- $15.0 m — election, up to an aggregate amount of $15.0 million, (i) upon the Company achieving a
- $25.0 million — Facility), up to an aggregate amount of $25.0 million. The Tranche 3 Loan portion of the Perc
- $64.643 m — id total consideration of approximately $64.643 million, which consisted of (i) $60.0 mil
- $0.5 million — amount outstanding, (ii) approximately $0.5 million of accrued and unpaid interest, (iii) $
- $2.97 million — n of accrued and unpaid interest, (iii) $2.97 million in connection with the Fourth Amendment
- $1.2 million — he Fourth Amendment Final Fee, and (iv) $1.2 million in connection with a prepayment fee. Th
- $90 Million — ronetics Announces the Closing of up to $90 Million Senior Secured Credit Facility with Per
Filing Documents
- d848541d8k.htm (8-K) — 36KB
- d848541dex41.htm (EX-4.1) — 89KB
- d848541dex42.htm (EX-4.2) — 5KB
- d848541dex43.htm (EX-4.3) — 112KB
- d848541dex101.htm (EX-10.1) — 603KB
- d848541dex991.htm (EX-99.1) — 7KB
- 0001193125-24-188309.txt ( ) — 1178KB
- stim-20240725.xsd (EX-101.SCH) — 3KB
- stim-20240725_lab.xml (EX-101.LAB) — 17KB
- stim-20240725_pre.xml (EX-101.PRE) — 11KB
- d848541d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 4.1 Form of Warrant 4.2 Form of Note 4.3 Form of Security Agreement 10.1 Credit Agreement and Guaranty, dated July 25, 2024, by and among Neuronetics, Inc., as the borrower, certain Subsidiaries of Neuronetics, Inc. from time to time party thereto, as guarantors, the lenders from time to time party thereto, and PERCEPTIVE CREDIT HOLDINGS IV, LP, in its capacity as the administrative agent for the lenders 99.1 Neuronetics Announces the Closing of up to $90 Million Senior Secured Credit Facility with Perceptive Advisors 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NEURONETICS, INC. (Registrant) Date: July 30, 2024 By: /s/ Stephen Furlong Name: Stephen Furlong Title: VP, Finance and Chief Financial Officer (Principal Financial and Accounting Officer)