Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
Greenbrook TMS Inc. incurred term loan of US$2,614,213 with Madryn Fund Administration, LLC (as administrative agent) and the lenders party thereto at 9.0% plus 3-month term SOFR (floor 1.5%) plus 0.10% per annum maturing 63 months, interest-only for 4 years, principal due in five equal quarterly installments beginning September 30, 2026.
- Instrument
- term loan
- Principal
- US$2,614,213
- Counterparty
- Madryn Fund Administration, LLC (as administrative agent) and the lenders party thereto
- Rate
- 9.0% plus 3-month term SOFR (floor 1.5%) plus 0.10% per annum
- Maturity
- 63 months, interest-only for 4 years, principal due in five equal quarterly installments beginning September 30, 2026
- Event
- incurrence
Exact text from the filing
Pursuant to the Amendment, the Company borrowed US$2,614,213 in senior secured term loans (the “ New Loan ”), the proceeds of which are expected to be used by the Company for general corporate and working capital purposes. After giving effect to the Amendment and the borrowing of the New Loan, the aggregate principal amount outstanding under the Credit Agreement is approximately US$94 million (collectively, the “ Loans ”). The Loans accrue interest at a rate per annum equal to 9.0% plus the 3-month term Secured Overnight Financing Rate (subject to a floor of 1.5%) plus 0.10%.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Greenbrook TMS Inc. entered into Twenty-Eighth Amendment with Madryn Fund Administration, LLC valued at US$2,614,213 (effective 2024-03-28).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Madryn Fund Administration, LLC
- Value
- US$2,614,213
- Effective
- 2024-03-28
Exact text from the filing
On March 28, 2024, the Company entered into the twenty-eighth amendment (the “ Amendment ”) to the Company’s credit agreement
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