M&A
confidence high
sentiment positive
materiality 0.85
Neuronetics closes Greenbrook TMS acquisition; adds 2 directors; secures $10M loan amendment.
Neuronetics, Inc.
- Acquisition closed Dec 9; exchange ratio 0.01021 Neuronetics share per Greenbrook share; Greenbrook to delist from OTCQB.
- Madryn converted ~2.06B Greenbrook Shares from credit agreement and ~253M from interim funding, receiving Neuronetics shares at exchange ratio.
- Board expanded to 7; appointed Sasha Cucuz (Greybrook CEO) and Dr. Avinash Amin (Madryn managing partner).
- Credit agreement with Perceptive amended to allow $10M Tranche 3 loan for combined operations and new revenue covenants; warrant for 600k shares issued.
- Combined company to operate as Neuronetics (STIM); integration targeting cost synergies and profitable growth.