Jun 03, 2022 activistcompany

Cannell Capital requested a Board seat in Neuronetics

Key Summary: On June 21, 2022, Cannell Capital (12.94%) requested the appointment of a specific board member during a call with the company's Chairman, Robert Cascella. Cannell argued that the candidate, based in the same city as the company, had a history of purchasing significant stock and demonstrated strong experience in the medical technology industry, citing a 1,000% stock appreciation during his tenure as CEO of his previous company.

Market Cap: $96 million| Neuronetics, Inc., a commercial stage medical technology company, designs, develops, and markets products for patients with neurohealth disorders in the United States and internationally.

On June 21, 2022, Cannell Capital (12.94%) had a call with Robert Cascella, Chairman of the Board of the Company, during which it requested the appointment of a certain board member. In the opinion of Cannell Capital, the addition of this candidate would benefit all owners of the company because: (i) his domicile is in the same city as the Company; (ii) he enjoys a predilection to buy a lot of stock in the Company; and (iii) he manifests robust experience and execution in the medical technology industry. From his appointment as CEO of his predecessor company in 2010 to its purchase, the stock of this company appreciated 1,000%. Source

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