Malvern-based Neuronetics recently entered into a $90 million debt deal with Perceptive Advisors, writes John George for the Philadelphia Business Journal. 

The medical technology company plans on using the funds to improve its balance sheet. 

At the closing of the loan agreement, Neuronetics received the first tranche of $50 million. 

The company will use part of the initial transfer to pay off its existing loan with SLR Capital. 

A second tranche of $15 million will be transferred to Neuronetics by Dec. 31, 2025, contingent on the company achieving certain undisclosed milestones. Neuronetics can also request an additional $25 million as a third tranche before June 30, 2026. 

As part of the deal, Neuronetics has issued warrants to New York-based Perceptive for the purchase of 1.125 million shares of its common stock. If the second tranche is borrowed, additional warrants will be issued. 

According to Neuronetics CEO Keith Sullivan, the deal strengthens the company’s balance sheet and gives it financial flexibility to support development of its products. 

“This funding will allow us to continue to invest in our commercial initiatives, expand our clinical indications, and drive adoption of our NeuroStar Advanced Therapy for Mental Health,” he said. 

Read more about Neuronetics’ debt deal with Perceptive Advisors in the Philadelphia Business Journal. 

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