UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.07 | Submission of Matters to a Vote of Security Holders |
As previously disclosed, Neuronetics, Inc. (the “Neuronetics”) entered into an Arrangement Agreement on August 11, 2024 (the “Arrangement Agreement”), with Greenbrook TMS Inc. (“Greenbrook”), pursuant to which Neuronetics agreed to acquire all of the issued and outstanding common shares of Greenbrook (the “Greenbrook Shares” and the holders of Greenbrook Shares, the “Greenbrook Shareholders”) pursuant to a plan of arrangement (the “Plan of Arrangement”) under the Business Corporations Act (Ontario) (the “Arrangement”).
On November 8, 2024, Neuronetics held a Special Meeting of Stockholders (the “Special Meeting”) at which the stockholders voted on the proposals set forth below, each of which is described in greater detail in the joint proxy statement/management information circular on Schedule 14A, filed with the U.S. Securities and Exchange Commission on October 4, 2024 (the “Joint Proxy Statement/Circular”).
As of September 20, 2024, the record date for the Special Meeting, there were 30,307,380 shares of common stock, par value $0.01 per share, of Neuronetics (“Neuronetics Shares”) issued and outstanding. At the Special Meeting, a quorum of 24,008,870 Neuronetics Shares, representing 79.21% of the total Neuronetics Shares outstanding and entitled to vote, were represented in person or by proxy at the Special Meeting. The final voting results for each proposal are described below:
Proposal 1: Neuronetics Charter Amendment Proposal. The proposal to approve an amendment and restatement of the Neuronetics Ninth Amended and Restated Certificate of Incorporation, as amended, to increase Neuronetics’ authorized shares of common stock from 200,000,000 shares to 250,000,000 shares. Approval of the Neuronetics Charter Amendment Proposal required the affirmative vote of a majority of votes cast at the Special Meeting on the Neuronetics Charter Amendment Proposal. The Neuronetics Charter Amendment Proposal received the affirmative vote of approximately 69.38% of Neuronetics Shares represented at the Special Meeting and entitled to vote on this proposal and, therefore, was approved.
| FOR |
AGAINST |
ABSTENTIONS |
BROKER NON-VOTES | |||
| 16,658,874 | 7,332,833 | 17,163 | N/A |
Proposal 2: Neuronetics Share Issuance Proposal. The proposal to approve the issuance of such number of Neuronetics Shares to Greenbrook Shareholders in accordance with the Arrangement Agreement. Approval of the Neuronetics Share Issuance Proposal required the affirmative vote of a majority of votes cast at the Special Meeting on the Neuronetics Share Issuance Proposal. The Neuronetics Share Issuance Proposal received the affirmative vote of approximately 67.56% of Neuronetics Shares represented at the Special Meeting and entitled to vote on this proposal and, therefore, was approved.
| FOR |
AGAINST |
ABSTENTIONS |
BROKER NON-VOTES | |||
| 11,956,848 | 5,728,604 | 12,409 | 6,311,009 |
Proposal 3: Neuronetics Incentive Plan Proposal. The proposal to approve an amendment to the Neuronetics 2018 Equity Incentive Plan (the “Plan”) to increase the number of Neuronetics Shares reserved for issuance by up to 3,500,000 additional Neuronetics Shares. Approval of the Neuronetics Incentive Plan Proposal required the affirmative vote of a majority of votes cast at the Special Meeting on the Neuronetics Incentive Plan Proposal. The Neuronetics Incentive Plan Proposal received the affirmative vote of approximately 53.56% of Neuronetics Shares represented at the Special Meeting and entitled to vote on this proposal and, therefore, was approved.
| FOR |
AGAINST |
ABSTENTIONS |
BROKER NON-VOTES | |||
| 9,479,422 | 8,207,011 | 11,428 | 6,311,009 |
Proposal 4: Neuronetics Adjournment Proposal. Subject to the provisions of the Arrangement Agreement, the proposal to approve the adjournment of the Special Meeting, if necessary or appropriate, to solicit additional proxies if there are not sufficient votes to approve the Neuronetics Charter Amendment Proposal and the Neuronetics Share Issuance Proposal. Approval requires the affirmative vote of the holders of a majority of the voting power of the Neuronetics Shares present or represented by proxy at the Special Meeting and entitled to vote on such proposal. The Neuronetics Adjournment Proposal received the affirmative vote of approximately 67.13% of Neuronetics Shares represented at the Special Meeting and entitled to vote on this proposal and, therefore, was approved.
| FOR |
AGAINST |
ABSTENTIONS |
BROKER NON-VOTES | |||
| 16,117,186 | 7,559,390 | 332,294 | N/A |
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: November 12, 2024 | By: | /s/ W. Andrew Macan | ||||
| Name: | W. Andrew Macan | |||||
| Title: | EVP, GC & Chief Compliance Officer | |||||