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.
Greenbrook TMS Inc. (NASDAQ: GBNH) has successfully acquired Achieve TMS East and Achieve TMS Central for an aggregate purchase price of US$8.0 million, with potential earn-outs of up to US$2.5 million based on performance. This acquisition adds 17 treatment centers to Greenbrook's network, enhancing access to TMS therapy for patients across more communities. Greenbrook currently operates 148 centers and has administered over 675,000 TMS treatments to patients with mental health disorders.
Greenbrook TMS Inc. (NASDAQ: GBNH) has successfully closed a public offering, issuing 1,707,750 common shares at US$7.75 each, totaling approximately US$13.2 million. This includes the full exercise of the underwriters’ over-allotment option. The net proceeds will be allocated towards the acquisition of Achieve TMS East and Achieve TMS Central, alongside general corporate purposes. The shares were qualified for sale under a prospectus supplement linked to a base shelf prospectus dated July 22, 2021.
Greenbrook TMS Inc. (NASDAQ: GBNH) has expanded its bought deal offering from US$10,075,000 to US$11,508,750 due to strong demand, selling 1,485,000 common shares at US$7.75 each. The offering may reach approximately US$13,235,063 if the over-allotment option for an additional 222,750 shares is exercised. Proceeds will fund the acquisition of Achieve TMS East and Central and support working capital. The offering is expected to close around September 27, 2021, pending regulatory approvals.
Greenbrook TMS Inc. (NASDAQ: GBNH) has announced its acquisition of Achieve TMS East and Achieve TMS Central, adding 17 TMS centers in Massachusetts, Connecticut, and Iowa. This deal, valued at an initial cash price of US$8.0 million, aims to enhance Greenbrook's TMS therapy services across the United States, increasing their total centers to 149. The acquisition is expected to close in Q4 2021, pending customary conditions. Additionally, Greenbrook plans to raise US$10.1 million through a share offering to finance this acquisition and support ongoing operations.
Greenbrook TMS Inc. (NASDAQ: GBNH) reported strong Q2 2021 results, with revenue reaching a record $13.7 million, a 40% year-over-year increase. Treatment volumes rose by 37% to 58,219. New patient starts climbed 36% to 1,659. The company returned to profitability with an operating income of $0.9 million, compared to losses in previous quarters. However, comprehensive loss decreased by 31% to $6.7 million. Following a recent private placement, Greenbrook expanded its TMS Centers to 129, with plans to offer Spravato® at more locations.
Greenbrook TMS Inc. (NASDAQ: GBNH) has appointed Robert Higgins to its board of directors, expanding the board to nine members. Higgins, co-founder of Masters Special Situations, brings extensive experience in healthcare investment and legal expertise. His past roles include Vice President at Arosa+LivHOME and various positions at Goldman Sachs and Sidley Austin LLP. Greenbrook operates 129 treatment centers, specializing in Transcranial Magnetic Stimulation (TMS) therapy, having delivered over 620,000 treatments to more than 17,000 patients.
Greenbrook TMS Inc. (NASDAQ: GBNH) will disclose its Q2 2021 operational and financial results after market hours on August 5, 2021. A conference call to discuss these results will be hosted by CEO Bill Leonard and CFO Erns Loubser at 10:00 a.m. ET on August 6, 2021. Greenbrook operates 130 treatment centers and is a leading provider of TMS therapy, an FDA-cleared treatment for Major Depressive Disorder, having administered over 620,000 treatments to over 17,000 patients.
Greenbrook TMS Inc. (NASDAQ: GBNH) has officially withdrawn its public offering of common shares due to unfavorable market conditions. The decision follows the successful closing of a US$23.5 million private placement under Rule 506(c) of the U.S. Securities Act. The company will not proceed with its short form base PREP prospectus in Canada or its registration statement in the U.S. Greenbrook operates 129 treatment centers, providing FDA-cleared TMS therapy for mental health disorders.
Greenbrook TMS Inc. (NASDAQ: GBNH) reported the results of its annual and special meeting, where approximately 60.26% of outstanding shares were represented. All director nominees received overwhelming support, with an average of 99.93% votes for their election. KPMG was reappointed as auditor with 99.99% approval. Amendments to the stock option plan and approval of unallocated options received strong backing, with 93.45% votes for both. The company operates 128 TMS therapy centers in the U.S., having administered over 620,000 treatments to more than 17,000 patients.
Greenbrook TMS Inc. (NASDAQ: GBNH) has completed a non-brokered private placement, issuing 2,353,347 common shares at $10.00 each, raising approximately $23.5 million. The placement was led by new investor Masters Special Situations, LLC (MSS) and included participation from other investors like BioStar Capital, Greybrook Health, and 1315 Capital. Proceeds will fund the development of new mental health service centers specializing in Transcranial Magnetic Stimulation (TMS) treatments. Notably, MSS and other major investors receive board appointment rights.
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