Neuronetics secures $60 million debt financial via SLR Capital

By Marisa Wong

Los Angeles, April 4 – Neuronetics, Inc. announced it entered into an amendment to its senior secured credit facilities with SLR Capital Partners, LLC for borrowings of up to $60 million maturing March 29, 2028, according to a press release.

The facilities are comprised of three tranches of term loans: a term A loan totaling $35 million, a term B loan totaling $2.5 million and a term C loan totaling $22.5 million.

The term A loan was fully drawn prior to the amendment. Prior to the amendment, the maturity date of the term A loans was Feb. 28, 2025.

On March 29, the company borrowed an aggregate amount of $2.5 million under the term B loan.

The interest rate is SOFR plus 565 basis points.

The term loan provides for at least 36 months of interest-only payments at closing.

Neuronetics is a Malvern, Pa.-based commercial stage medical technology company that develops non-invasive treatments for psychiatric disorders.

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