secwatch.observer — SEC 8-K summary
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Issuer:     Greenbrook TMS Inc. (—)
CIK:        0001735948
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001104659-24-056445
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Greenbrook TMS borrows $2.8M under amended credit agreement, extends reduced liquidity covenant
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- Entered 31st amendment to credit agreement borrowing US$2,802,030 in senior secured term loans for general corporate purposes.
- Aggregate principal outstanding now ~US$99M; loans accrue at 9% + 3-month SOFR (floor 1.5%) + 0.10%.
- Minimum liquidity covenant reduced from $3M to $300k extended to May 30, 2024.
- Loans mature over 63 months with 4 years interest-only; principal due in 5 equal quarterly installments starting Sept 30, 2026.
- Affiliates of Madryn (lender and administrative agent) hold 61.7% of common shares upon full conversion of convertible instruments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1735948/000110465924056445/0001104659-24-056445-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1735948/000110465924056445/tm2413296d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-056445

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