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Greenbrook TMS Inc. - GBNH STOCK NEWS

Welcome to our dedicated page for Greenbrook TMS news (Ticker: GBNH), a resource for investors and traders seeking the latest updates and insights on Greenbrook TMS stock.

Greenbrook TMS Inc. (NASDAQ: GBNH) is a leading provider of Transcranial Magnetic Stimulation (TMS) therapy and Spravato® (esketamine nasal spray), offering FDA-cleared, non-invasive treatments for Major Depressive Disorder (MDD) and other mental health conditions in the United States. Operating through 130 Company-operated treatment centers, Greenbrook has delivered over 1.3 million treatments to more than 40,000 patients struggling with depression.

TMS therapy involves local electromagnetic stimulation of brain regions associated with mood regulation, while Spravato® is used to treat adults with treatment-resistant depression and depressive symptoms in adults with MDD who have suicidal thoughts or actions. Both therapies are known for being non-invasive, non-sedative, and devoid of drug-related side effects.

As of recent developments, Greenbrook has secured additional financing, including multiple amendments to its credit facility with Madryn Asset Management, LP. The transactions, aimed at improving the company’s financial position, have increased its outstanding loans to approximately $87 million. These funds are expected to support Greenbrook’s general corporate needs, working capital, and debt service obligations.

Furthermore, Greenbrook has recently appointed Juliana Elstad to its board of directors. Ms. Elstad brings over two decades of experience in medical technology and leadership, which is anticipated to be an asset to the company's governance and strategic growth.

Despite facing financial challenges, including the need for additional liquidity and compliance with debt covenants, Greenbrook is actively pursuing various financing and restructuring options to sustain operations. The company remains committed to its mission of providing effective mental health treatments and supporting patients in their journey toward better mental health.

News

GREENBROOK TMS ANNOUNCES DELISTING FROM NASDAQ

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Greenbrook TMS Inc. receives final delisting notice from Nasdaq due to non-compliance with minimum bid price and stockholders' equity requirements. Common shares to be suspended on February 26, 2024, with plans to quote on OTC Markets. Company decides not to appeal Nasdaq's decision.
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Greenbrook Announces $1.2 Million Registered Direct Offering

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Greenbrook TMS Inc. (NASDAQ: GBNH) announces a registered direct offering of 6,000,000 common shares at $0.20 per share, raising approximately $1.2 million in gross proceeds.
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GREENBROOK TMS RAISES US$2.5 MILLION IN DEBT FINANCING

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Greenbrook TMS Inc. announces a new senior secured term loan of US$2,538,071 from Madryn Asset Management, LP under the Credit Facility. The company now has approximately US$87 million outstanding under the facility, with plans to use the new funds for general corporate and working capital purposes. The Amendment also extends the minimum liquidity covenant period to March 15, 2024.
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GREENBROOK TMS RAISES US$1.5 MILLION IN DEBT FINANCING

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Greenbrook TMS Inc. announced a new amendment to its credit facility with Madryn Asset Management, securing an additional US$1,522,843 in senior secured term loans. The company now has approximately US$85 million outstanding under the credit facility. The proceeds of the new loan will be used for general corporate and working capital purposes. The transactions were reviewed and approved by the independent members of the board of directors, and the new loan is exempt from minority approval requirements under MI 61-101.
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GREENBROOK APPOINTS PETER WILLETT AS CHIEF FINANCIAL OFFICER

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Greenbrook TMS Inc. (NASDAQ: GBNH) has appointed Peter Willett as the full-time Chief Financial Officer. Mr. Willett brings over 11 years of finance experience and has been a key player on the Greenbrook finance team for the past six years. This appointment signifies a strategic move to strengthen the company's financial leadership.
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GREENBROOK TMS ANNOUNCES DIRECTOR APPOINTMENT

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Greenbrook TMS Inc. (NASDAQ: GBNH) has appointed Juliana Elstad, a seasoned CEO and entrepreneur, to its board of directors. Ms. Elstad brings over 20 years of experience in medical innovation and has a track record of success in both small startup and multi-billion-dollar environments. She is currently the president and CEO of Vibrato Medical, a company developing non-invasive technology for the treatment of Chronic Limb Threatening Ischemia and Peripheral Arterial Disease. Prior to this, she has held leadership positions at Impleo Medical, Intelect Medical, and Medtronic, Inc. Ms. Elstad is also a member of the board of directors of AdvaMed, the world's largest medtech trade association.
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GREENBROOK TMS RAISES US$1.5 MILLION IN DEBT FINANCING

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Greenbrook TMS Inc. (NASDAQ: GBNH) has secured an additional US$1,522,843 in senior secured term loans from affiliates of Madryn Asset Management, LP. The company now has an aggregate amount of approximately US$83 million outstanding under the Credit Facility. The New Loan is expected to be used for general corporate and working capital purposes. Madryn has also agreed to extend the period during which the Company's minimum liquidity covenant under the Credit Facility is reduced. The transactions are considered 'related party transactions' and were reviewed and unanimously approved by the independent members of the board of directors of the Company.
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GREENBROOK TMS RAISES US$5.3 MILLION IN DEBT FINANCING

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Greenbrook TMS Inc. (NASDAQ: GBNH) secures additional US$5,262,952 in senior secured term loans from Madryn Asset Management, LP, with the option for Madryn to convert up to approximately US$478,450 of the outstanding principal amount of the new loan into common shares of the company at a conversion price per share equal to US$1.90.
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GREENBROOK TMS RAISES US$4.0 MILLION IN DEBT FINANCING

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Greenbrook TMS Inc. (NASDAQ: GBNH) secures additional senior secured term loans of US$4,015,548.22 from Madryn Asset Management, LP. The total outstanding under the Credit Facility is approximately US$76 million. Madryn has the option to convert a portion of the outstanding principal amount of the New Loan into Common Shares at a conversion price per share equal to US$1.90. The Amendment extends the period during which the Company's minimum liquidity covenant is reduced from US$3,000,000 to US$300,000 to January 15, 2024.
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GREENBROOK TMS RAISES US$2.5 MILLION IN DEBT FINANCING

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Greenbrook TMS Inc. (NASDAQ: GBNH) secured an additional $2,500,000 in senior secured term loans from Madryn Asset Management, LP under the twentieth amendment to its credit facility. The company now has an aggregate amount of approximately $72 million outstanding under the Credit Facility. Madryn also has the option to convert up to approximately US$227,273 of the outstanding principal amount of the new loan into common shares of the Company at a conversion price per share equal to US$1.90.
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FAQ

What is the market cap of Greenbrook TMS (GBNH)?

The market cap of Greenbrook TMS (GBNH) is approximately 5.5M.

What is Greenbrook TMS Inc.?

Greenbrook TMS Inc. is a leading provider of Transcranial Magnetic Stimulation (TMS) therapy and Spravato® (esketamine nasal spray) for treating Major Depressive Disorder (MDD) and other mental health conditions in the United States.

What treatments does Greenbrook TMS Inc. offer?

Greenbrook offers Transcranial Magnetic Stimulation (TMS) therapy and Spravato® (esketamine nasal spray), both of which are FDA-cleared, non-invasive treatments for depression and other mental health disorders.

How many treatment centers does Greenbrook TMS operate?

Greenbrook TMS operates through 130 Company-operated treatment centers across the United States.

What recent financial developments have occurred at Greenbrook TMS Inc.?

Greenbrook has secured additional financing through multiple amendments to its credit facility with Madryn Asset Management, LP, increasing its outstanding loans to approximately $87 million to support its corporate needs and working capital.

Who recently joined Greenbrook TMS Inc.'s board of directors?

Juliana Elstad recently joined Greenbrook TMS Inc.'s board of directors as an independent director.

What is TMS therapy?

TMS therapy involves local electromagnetic stimulation of specific brain regions known to be directly associated with mood regulation, providing a non-invasive treatment for depression.

What is Spravato®?

Spravato® (esketamine nasal spray) is an FDA-cleared treatment offered by Greenbrook TMS for adults with treatment-resistant depression and depressive symptoms in adults with MDD with suicidal thoughts or actions.

How many patients has Greenbrook TMS treated?

Greenbrook TMS has provided over 1.3 million treatments to more than 40,000 patients struggling with depression.

What challenges is Greenbrook TMS Inc. facing?

Greenbrook is facing financial challenges, including the need for additional liquidity and compliance with debt covenants, but is actively pursuing various financing and restructuring options to sustain operations.

What are the benefits of TMS therapy and Spravato®?

Both TMS therapy and Spravato® provide effective treatment options for depression that are non-invasive, non-sedative, and free from drug-related side effects.

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Greenbrook TMS Inc.

Nasdaq:GBNH

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GBNH Stock Data

5.52M
13.12M
47.89%
30.61%
0.27%
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