secwatch.observer — SEC 8-K summary
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Issuer:     Greenbrook TMS Inc. (—)
CIK:        0001735948
Form:       8-K
Filed at:   2024-03-01T23:59:59+00:00
Accession:  0001104659-24-030032
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1735948/000110465924030032/0001104659-24-030032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1735948/000110465924030032/tm247683d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-030032

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