secwatch.observer — SEC 8-K summary
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Issuer:     Greenbrook TMS Inc. (—)
CIK:        0001735948
Form:       8-K
Filed at:   2024-04-19T23:59:59+00:00
Accession:  0001104659-24-049181
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.03, 4.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Greenbrook TMS restates FY2022 and Q3 2023 financials; borrows $2.03M under credit amendment
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- Audited FY2022 financials restated: revenue overstated and loss understated by $2.3M; accounts receivable overstated by $6.6M.
- Q3 2023 quarterly financials restated: revenue overstated and loss understated by $1.9M; accounts receivable overstated by $8.5M.
- Entered credit agreement amendment borrowing $2,030,457; aggregate principal ~$96M at 9% + SOFR + 0.10% interest.
- Waiver granted for FY2023 audited financials reporting deadline extended to April 26, 2024.
- Madryn affiliates, company's largest shareholder, own 63.4% of common shares on conversion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1735948/000110465924049181/0001104659-24-049181-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1735948/000110465924049181/tm2412268d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-049181

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