On April 6, 2026, Jorey Chernett announced that it had issued a letter to the Board of Directors of Neuronetics calling for the immediate initiation of a comprehensive review of strategic alternatives, including the potential sale of the Issuer's transcranial magnetic stimulation ("TMS") business. Jorey Chernett added that it had expressed the view that the Company's current structure and strategy are not maximizing shareholder value and that separating or divesting the TMS business should be evaluated as part of a broader strategic review and also noted that such a transaction could enhance the Company's financial flexibility and allow for a more focused strategic direction. Jorey Chernett urged the Board to engage qualified investment bankers and immediately commence a formal process to evaluate strategic alternatives.