UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
|
| |||
(State or other jurisdiction of incorporation) |
| (Commission File Number) |
| (I.R.S. Employer Identification No.) |
| ||
(Address of principal executive offices) |
| (Zip Code) |
Registrant’s telephone number, including area code (
(Former name or former address, if changed since last report.) Not applicable.
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
| Trading Symbol (s) |
| Name on each exchange on which registered |
Common Stock ($0.01 par value) | STIM | The Nasdaq Global Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 1.02 Termination of a Material Definitive Agreement.
On July 14, 2022, Check Five LLC d/b/a Success TMS (“Success TMS”) repaid in full with a one-time cash payment of $10,544,792 all outstanding principal and accrued but unpaid interest under that certain secured promissory note issued to Neuronetics, Inc. (the “Company”) on September 29, 2021, as amended, restated or otherwise modified from time to time (the “Note”). The repayment extinguished the Note in its entirety and terminated the subordination agreement entered into by the Company and ZW Partners, LLC.
A description of the material terms of the Note was contained in the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on October 5, 2021. The foregoing summary does not purport to be complete and is subject to, and qualified in its entirety by reference to the payoff letter, which is filed herewith as Exhibit 99.1 and is incorporated herein by reference.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
NEURONETICS, INC. | ||
(Registrant) | ||
Date: July 18, 2022 | By: | /s/ Stephen Furlong | |
Name: | Stephen Furlong | ||
Title: | SVP, Chief Financial Officer and Treasurer | ||
(Principal Financial and Accounting Officer) |