MALVERN, Pa., July 30, 2024 (GLOBE NEWSWIRE) -- Neuronetics, Inc. (NASDAQ:STIM), a medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from neurohealth disorders, today announced that it entered into a debt facility of up to $90 million with Perceptive Advisors LLC (Perceptive). Under the term loan, Neuronetics received the first tranche of $50 million at closing. Part of the initial $50 million tranche will be used to pay off, in full, the Company's existing SLR Capital term loan. Upon achieving certain milestones, a second tranche of $15 million will be available until December 31, 2025. Under the third tranche, the Company can request to borrow $25.0 million on or before June 30, 2026. "We are pleased to announce this new credit facility with Perceptive Advisors, which strengthens our balance sheet and provides additional financial flexibility to support our initiatives and programs," said Keith Sullivan, President and Chief Executive Officer of Neuronetics. "This funding will allow us to continue to invest in our commercial initiatives, expand our clinical indications, and drive adoption of our ...