Greenbrook TMS borrows additional $2.54M under amended credit agreement with Madryn

Greenbrook TMS Inc.

Borrowed $2,538,071 in senior secured term loans; total outstanding ~$92M.
Loan accrues interest at 9% + 3-month SOFR (floor 1.5%) + 0.10%.
Maturity 63 months; interest-only for 4 years, then 5 quarterly installments starting Sep 30, 2026.
Minimum liquidity covenant temporarily reduced to $300k (from $3M) through March 31, 2024.
Madryn affiliates are company's largest shareholder, owning 45% upon conversion.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Greenbrook TMS Inc. entered into Twenty-Seventh Amendment to Credit Agreement with Madryn Fund Administration, LLC valued at US$2,538,071 in new senior secured term loans; aggregate principal ~US$92 million (effective 2024-03-15).

Action: entry
Agreement: credit facility
Counterparty: Madryn Fund Administration, LLC
Value: US$2,538,071 in new senior secured term loans; aggregate principal ~US$92 million
Effective: 2024-03-15

Exact text from the filing

On March 15, 2024, the Company entered into the twenty-seventh 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.

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Source: SEC EDGAR

accession 0001104659-24-034977

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