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.
