---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-030032"
form_type: "8-K"
ticker: null
cik: "0001735948"
company_name: "Greenbrook TMS Inc."
filed_at: "2024-03-01T23:59:59+00:00"
generated_at: "2026-06-05T05:41:05.221868+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Greenbrook TMS borrows $1.78M in additional senior secured debt amid Nasdaq delisting

## Summary
- Borrowed $1,776,650 in new senior secured term loans on March 1, 2024 under 26th credit agreement amendment.
- Aggregate principal outstanding under the credit agreement now ~$89M; loans mature over 63 months with 4 years interest-only.
- Interest rate: 9% + 3-month SOFR (floor 1.5%) + 0.10%; proceeds for general corporate and working capital purposes.
- Covenants require minimum liquidity: $300K until March 15, 2024, then $3.0M thereafter, tested daily.
- Madryn affiliates (largest shareholder at 45% upon conversion) serve as administrative agent and lenders.

## SEC filing metadata
- accession: 0001104659-24-030032
- form_type: 8-K
- cik: 0001735948
- company_name: Greenbrook TMS Inc.
- filed_at: 2024-03-01T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1735948/000110465924030032/0001104659-24-030032-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1735948/000110465924030032/tm247683d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-030032
- JSON: https://secwatch.observer/filing/0001104659-24-030032.json
- Plain text: https://secwatch.observer/filing/0001104659-24-030032.txt

## Key facts
- Material Agreements
  Greenbrook TMS Inc. amended twenty-sixth amendment with Madryn Fund Administration, LLC valued at US$1,776,650 (effective 2024-03-01).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Madryn Fund Administration, LLC
  - Value: US$1,776,650
  - Effective: 2024-03-01
  source text: the twenty-sixth amendment (the " Amendment ") to the Company’s credit agreement, dated as of July 14, 2022 (as previously amended and as amended by the Amendment, the " Credit Agreement "), by and among the Company, certain of its subsidiaries party thereto as guarantors, Madryn Fund Administration, LLC, as administrative agent (" Madryn ") and the lenders party thereto. Pursuant to the Amendment, the Company borrowed US$1,776,650 in senior secured term loans (the " New Loan ")
  evidence_url: https://www.sec.gov/Archives/edgar/data/1735948/000110465924030032/0001104659-24-030032-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.