Greenbrook TMS Closes US$30 Million Credit Facility With Oxford Finance LLC

Greenbrook TMS Inc. (TSX:GTMS) (“Greenbrook” or the “Business“), a main provider of Transcranial Magnetic Stimulation (“TMS“) remedy in the United States, announced now that it and its subsidiaries have entered into a credit and stability arrangement for a US$30 million secured credit history facility (the “Credit Facility“) with Oxford Finance LLC (“Oxford“).

Monthly bill Leonard, CEO of Greenbrook commented, “We are incredibly happy to complete this financial debt funding that provides us with an immediate US$15 million of minimally dilutive cash to bolster our stability sheet and fund our ongoing expansion. The up to US$15 million in delayed draw tranches will enable us to prudently use more personal debt as we additional expand our network of Greenbrook TMS centers via both equally our organic development strategy and potential acquisitions.”

The Credit history Facility offers a US$15 million term mortgage which was funded at closing and an solution of drawing up to an added US$15 million in 3 US$5 million delayed-draw term personal loan tranches in the upcoming 24 months, matter to achieving certain monetary milestones. All quantities borrowed below the Credit score Facility will bear desire at a charge equal to 30-working day LIBOR as well as 7.75%, subject to a minimal desire charge of 8.75%. The Credit history Facility has a 5-year time period and amortizes above the everyday living of the Credit history Facility with 1% of the principal volume fantastic amortized above many years 1 to four with the remaining remarkable principal repaid in equal installments more than the fifth calendar year.

As consideration for giving the Credit Facility, Greenbrook issued 256,535 popular share buy warrants to Oxford (the “Warrants“). Each and every Warrant is exercisable for 1 prevalent share of Greenbrook at an workout value of C$2.24 per typical share. The Warrants will expire on December 31, 2025.

Bloom Burton Securities Inc. acted as the Firm’s sole economic adviser in link with the transaction.

About Oxford Finance LLC

Oxford is a specialty finance business giving senior secured financial loans to public and private lifetime sciences and health care expert services providers worldwide. For above 20 yrs, Oxford has shipped versatile financing alternatives to its clientele, enabling these businesses to increase their fairness by leveraging their property. In the latest a long time, Oxford has originated around $6 billion in loans, with traces of credit ranging from $5 million to $150 million. Oxford is headquartered in Alexandria, Va., with further offices in San Diego, Calif. Palo Alto, Calif. and the larger Boston and New York Metropolis parts. For additional data, take a look at https://oxfordfinance.com/.

About Greenbrook TMS Inc.

Working as a result of 125 Enterprise-operated treatment method facilities, Greenbrook is a primary company of TMS treatment, an Food and drug administration-cleared, non-invasive remedy for the procedure of Significant Depressive Condition and other psychological wellbeing disorders, in the United States. TMS therapy offers neighborhood electromagnetic stimulation to certain brain regions identified to be right involved with temper regulation. Greenbrook has furnished more than 510,000 TMS solutions to more than 14,000 patients struggling with despair.

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