secwatch.observer — SEC 8-K summary
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Issuer:     Greenbrook TMS Inc. (—)
CIK:        0001735948
Form:       8-K
Filed at:   2024-02-09T23:59:59+00:00
Accession:  0001104659-24-012998
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Greenbrook TMS borrows $1.52M in additional senior secured debt from Madryn; total ~$85M
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- Borrowed $1,522,843 under 24th amendment to credit facility with Madryn; total outstanding ~$85M.
- Loan priced at 9% + 3-month SOFR (floor 1.5%) + 0.10%, 63-month maturity, 4 years interest-only.
- Covenants: revenue test and daily minimum liquidity of $300K until Feb 15, then $3M.
- Madryn affiliates hold ~45% of common shares upon conversion; transaction exempt from minority approval.
- Company considering additional near-term financing options to address future liquidity needs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1735948/000110465924012998/0001104659-24-012998-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1735948/000110465924012998/tm245797d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-012998

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