Greenbrook TMS Secures Additional Senior Secured Loans

Greenbrook Tms (GBNH) has released an update to notify the public and investors about an entry into a material definitive agreement.

Greenbrook TMS Inc. has amended its credit agreement to secure an additional US$1,522,843 in senior secured term loans, with the total outstanding loans now around US$85 million. These loans carry an interest rate of 9.0% plus the 3-month Secured Overnight Financing Rate, with a 1.5% floor and an additional 0.10%, maturing over 63 months with interest-only payments for the first four years. The company plans to use the proceeds for general corporate purposes and working capital. The agreement includes strict financial covenants and operational restrictions, with the company also pledging its assets as security.

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For a comprehensive understanding of the announcement, you can read the full document here.

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