secwatch.observer — SEC 8-K summary
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Issuer:     Greenbrook TMS Inc. (—)
CIK:        0001735948
Form:       8-K
Filed at:   2024-03-29T23:59:59+00:00
Accession:  0001104659-24-040654
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Greenbrook TMS borrows $2.6M under amended credit agreement; reduced liquidity covenant extended
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- Borrowed $2,614,213 in senior secured term loans from Madryn; aggregate principal now ~$94M.
- Interest rate is 9.0% + 3-month SOFR (1.5% floor) + 0.10%; interest-only for 4 years.
- Minimum liquidity covenant reduced from $3M to $300k extended to April 30, 2024.
- Waived requirement to deliver audited FY2023 financials without going concern qualification.
- Company announced delisting from Nasdaq; now trades on OTCQB under symbol GBNHF.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1735948/000110465924040654/0001104659-24-040654-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1735948/000110465924040654/tm2410138d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-040654

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