secwatch.observer — SEC 8-K summary
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Issuer:     Greenbrook TMS Inc. (—)
CIK:        0001735948
Form:       8-K
Filed at:   2024-03-15T23:59:59+00:00
Accession:  0001104659-24-034977
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1735948/000110465924034977/0001104659-24-034977-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1735948/000110465924034977/tm248967d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-034977

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