Neuronetics

Canaccord Genuity Acts as Financial Advisor to Neuronetics, Inc. on its Announced Merger with Greenbrook TMS Inc.

Canaccord Genuity is pleased to announce that on August 12, 2024, Neuronetics, Inc. (NASDAQ: STIM) (“Neuronetics”) and Greenbrook TMS Inc. (OTCMKTS: GBNHF) (“Greenbrook”) announced that they have entered into a definitive arrangement agreement in which Neuronetics will acquire all of the outstanding common shares of Greenbrook in an all-stock transaction. Prior to the completion of the transaction, all of Greenbrook’s existing credit facility and subordinated convertible debt will be converted into Greenbrook common shares. Following the closing of the transaction, Neuronetics shareholders will own approximately 57% of the combined company, and Greenbrook shareholders will own approximately 43% of the combined company, respectively, on a fully diluted basis. The transaction is expected to close during the fourth quarter of 2024, subject to approval by both companies’ shareholders, court approval in respect of the plan of arrangement as well as other customary closing conditions.

Canaccord Genuity is serving as financial advisor to Neuronetics in connection with the announced transaction.

Neuronetics develops NeuroStar, a non-drug, non-invasive treatment that can improve the quality of life for people suffering from neurohealth conditions when traditional medication hasn’t helped. NeuroStar is indicated for the treatment of depressive episodes and for decreasing anxiety symptoms for those who may exhibit comorbid anxiety symptoms in adult patients suffering from Major Depressive Disorder (”MDD”) and who failed to achieve satisfactory improvement from previous antidepressant medication treatment in the current episode. It is also FDA-cleared as an adjunct for adults with obsessive-compulsive disorder and for adolescent patients aged 15-21 with MDD. NeuroStar is the leading Transcranial Magnetic Stimulation (“TMS”) treatment for MDD in adults with over 6.4 million treatments delivered.

Greenbrook operates through 130 company-operated treatment centers (118 treatment centers following completion of the previously-disclosed settlement transaction). Greenbrook is a leading provider of TMS and Spravato (esketamine nasal spray), FDA-cleared, non-invasive therapies for the treatment of MDD and other mental health disorders in the United States. Greenbrook has provided more than one million treatments to over 30,000 patients struggling with depression.

Canaccord Genuity is focused on the corporate finance needs associated with growth companies in the United States, Canada, Europe and Asia. We are structured to provide our clients with a full range of global investment banking services, including corporate finance, research, sales and trading. Our thematic research focusing on companies around the world provides our firm with unique access to growth investors. In the last twelve months, the firm advised on approximately 100 M&A assignments globally.

We would welcome the chance to work with you in the future. Please feel free to contact any of our team members if we can be of assistance.