BUZZ-Neuronetics plunges on deep-discounted stock offering

Shares of medtech firm Neuronetics STIM.O plunge 33% to $2.38 premarket after follow-on prices

Malvern, Pennsylvania-based co, which offers its NeuroStar Therapy to treat major depressive disorder, announces 8 mln shares at $2.25 for $18 mln gross raise

Offering price is 36.8% discount to stock's close on Thurs

Co says plans to use net offering proceeds for general purposes, including sales and marketing, R&D, potential acquisitions, among others

With ~55.65 mln shares outstanding, co has $198 mln market cap, per LSEG, and ~27 mln shares of public float

Canaccord Genuity sole bookrunner for offering

Through Thurs, shares rose 121% YTD. Stock hit record low of 52 cents in mid-Nov

Avg rating among 4 analysts is "buy" with $3 median PT - LSEG