---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-034977"
form_type: "8-K"
ticker: null
cik: "0001735948"
company_name: "Greenbrook TMS Inc."
filed_at: "2024-03-15T23:59:59+00:00"
generated_at: "2026-06-04T17:35:11.994641+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-24-034977
- form_type: 8-K
- cik: 0001735948
- company_name: Greenbrook TMS Inc.
- filed_at: 2024-03-15T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1735948/000110465924034977/0001104659-24-034977-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1735948/000110465924034977/tm248967d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-034977
- JSON: https://secwatch.observer/filing/0001104659-24-034977.json
- Plain text: https://secwatch.observer/filing/0001104659-24-034977.txt

## Key facts
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1735948/000110465924034977/0001104659-24-034977-index.htm

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