Greenbrook Tms Announces Us$8.25 Million Equity And Debt Financings

Mar 24, 2023•over 2 years ago

Amount Raised

$8.25 Million

TorontoMedicalBiotechnologyHealth Care

Investors

Madryn Debt FinancingMasters Special Situations LlcGreybrook Health Inc.MadrynMadryn Asset Management, Lp

Description

Greenbrook TMS Inc. (NASDAQ: GBNH) ("Greenbrook" or the "Company") today announced that it has (i) completed a non-brokered private placement (the "Private Placement") of common shares of the Company (the "Common Shares") for aggregate gross proceeds of approximately US$6.25 million, and (ii) entered into amendments to its credit facility (the "Credit Facility") with Madryn Asset Management, LP and affiliates thereof ("Madryn"), whereby Madryn has agreed to extend two additional tranches of debt financing to the Company in an aggregate principal amount of US$2.0 million (the "New Loan").

Company Information

Company

Greenbrook TMS

Location

890 Yonge Street, 7th Floor

Toronto, Ontario, Canada

About

Operating through 193 Company-operated treatment centers (including those added through the Acquisition), Greenbrook is a leading provider of TMS therapy, an FDA-cleared, non-invasive therapy for the treatment of Major Depressive Disorder and other mental health disorders, in the United States. TMS therapy provides local electromagnetic stimulation to specific brain regions known to be directly associated with mood regulation. Greenbrook has provided more than 840,000 TMS treatments to over 24,000 patients struggling with depression.

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