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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) delivers innovative mental health solutions through its network of 130 treatment centers, specializing in Transcranial Magnetic Stimulation (TMS) therapy and Spravato® for depression. This page provides essential updates on corporate developments, clinical advancements, and strategic initiatives shaping this mental health leader.

Investors and healthcare professionals will find timely information on financial restructuring efforts, leadership appointments like recent board member Juliana Elstad, and operational milestones including over 1.3 million treatments administered. Our curated news collection covers earnings reports, partnership announcements, and treatment efficacy updates while maintaining compliance with financial disclosure standards.

Discover how Greenbrook combines clinical expertise with business innovation through its FDA-cleared therapies and strategic financing agreements. Bookmark this page for ongoing insights into corporate governance changes, treatment accessibility improvements, and industry recognition of non-invasive depression therapies.

News

Greenbrook TMS Announces Settlement of Ongoing Litigation

Rhea-AI Summary
Greenbrook TMS Inc. (GBNH) settles breach of contract claim with plaintiff, agreeing to pay approximately $2.2 million in total, including an initial immediate payment of $250,000 and weekly payments of $75,000 up to the maturity date of the promissory note on May 1, 2024. The settlement also involves the dismissal of the Klein Note Action and a mutual release of claims. Additionally, there is a stay on the separate complaint related to the acquisition of Success TMS for up to six months.
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GREENBROOK TMS RECEIVES NASDAQ DELISTING NOTICE AND INTENDS TO APPEAL

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Greenbrook TMS Inc. (NASDAQ: GBNH) received notification from Nasdaq of its delisting due to noncompliance with the Minimum Bid Requirement and the MVLS Requirement. The company has until November 13, 2023, to regain compliance with these requirements. Greenbrook intends to appeal the determination made by Nasdaq pursuant to the procedures set forth in the Nasdaq Listing Rules.
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GREENBROOK TMS RAISES US$2.5 MILLION IN DEBT FINANCING

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Greenbrook TMS Inc. (NASDAQ: GBNH) announced the nineteenth amendment to its credit facility with Madryn Asset Management, securing an additional $2,548,223.35 in senior secured term loans. The amendment also allows for the conversion of a portion of the outstanding principal amount of the new loan into common shares of the company at a conversion price of US$1.90. The amendment further defers the interest payment due date and extends the period during which the company's minimum liquidity covenant is reduced. The proceeds of the new loan will 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.
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GREENBROOK TMS REPORTS THIRD QUARTER OPERATIONAL AND FINANCIAL RESULTS

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Greenbrook TMS Inc. (NASDAQ: GBNH) announced its Q3 2023 operational and financial results, including a 13% decrease in quarterly revenue to $18.0 million, a 17% increase in YTD 2023 revenue to $56.3 million, and a 24% decrease in loss for the period. The company also reported the expansion of its Spravato® offering to 56 treatment centers, with plans to reach 70-80 centers by the end of fiscal 2023.
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GREENBROOK TMS RAISES US$2.0 MILLION IN DEBT FINANCING

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Greenbrook TMS Inc. has entered into the eighteenth amendment to its credit facility with Madryn Asset Management, securing an additional $2,045,685.28 in senior secured term loans. The company now has approximately $67.5 million outstanding under the credit facility. Madryn also has the option to convert up to $6.1 million of the outstanding principal amount of the loans into common shares at a conversion price of $1.90 per share.
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GREENBROOK TMS ANNOUNCES DIRECTOR APPOINTMENT

Rhea-AI Summary
Greenbrook TMS Inc. appoints Surindra Mann as an independent director, filling the vacancy created by the resignation of Dr. Adrienne Graves. Mann is a finance executive with over 20 years of experience in high growth environments, primarily in the medical device industry. She currently serves as the vice-president of global finance at STAAR Surgical. Mann's appointment strengthens the company's board and brings expertise in finance and accounting.
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GREENBROOK TMS ANNOUNCES DATES FOR ITS THIRD QUARTER 2023 FINANCIAL RESULTS

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Greenbrook TMS Inc. will release its 2023 third quarter operational and financial results on November 8, 2023. A conference call will be held on November 9, 2023 to discuss the results.
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GREENBROOK APPOINTS INTERIM CHIEF FINANCIAL OFFICER

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Greenbrook TMS Inc. appoints Peter Willett as Interim Chief Financial Officer
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GREENBROOK TMS RAISES US$1.5 MILLION IN DEBT FINANCING

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Greenbrook TMS Inc. receives $1.5 million in debt financing
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GREENBROOK TMS RAISES US$1.9 MILLION IN DEBT FINANCING

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Greenbrook TMS raises US$1.9 million in debt financing
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Greenbrook TMS Inc.

Nasdaq:GBNH

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5.52M
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47.89%
30.61%
0.27%
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