Greenbrook TMS Obtains Additional Debt Financing
Portfolio Pulse from Happy Mohamed
Greenbrook TMS Inc. (NASDAQ:GBNH) has entered into a note purchase agreement with Greybrook Health Inc. and affiliates of Madryn Fund Administration, LLC, issuing $2 million of unsecured subordinated convertible promissory notes. The notes bear interest at a rate consistent with the company's credit facility with Madryn and mature on March 31, 2028. The proceeds are expected to be used for general corporate and working capital purposes. The company is also considering additional near-term financing options to address its future liquidity needs.
August 15, 2023 | 1:06 pm
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Greenbrook TMS Inc. has secured additional financing through the issuance of $2 million of unsecured subordinated convertible promissory notes. This could provide the company with the necessary liquidity for its operations and future plans.
The issuance of the convertible notes provides Greenbrook with additional capital, which can be used for general corporate and working capital purposes. This could potentially strengthen the company's financial position and support its future plans, which could have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100