Jorey Chernett Urges Strategic Review and Potential TMS Business Sale at Neuronetics, Inc.

Jorey Chernett filed Amendment No. 1 to Schedule 13D on April 8, 2026, regarding his investment in Neuronetics, Inc. (STIM). While the reporting person's ownership remained steady at 9,778,718 shares (14.12% of the company), the filing marks a significant shift toward active engagement. On April 6, 2026, Chernett delivered a formal letter to the Board of Directors calling for an immediate strategic review. Specifically, Chernett is pushing for the potential sale of the company's transcranial magnetic stimulation (TMS) business, arguing that the current corporate structure fails to maximize shareholder value. The filer contends that divesting the TMS business would enhance financial flexibility and allow for a more focused strategic direction. Chernett has urged the Board to hire investment bankers to facilitate this formal review process. This activist move follows the initial 13D filing from late March 2026, signaling increased pressure on management to pursue a transaction or structural change to unlock value for investors.