May 18, 2024

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

4 min read

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

Greenbrook TMS Inc. (TSX: GTMS) (“Greenbrook” or the “Company”), a main company of Transcranial Magnetic Stimulation (“TMS”) treatment in the United States, introduced now that it and its subsidiaries have entered into a credit score and safety settlement for a US$30 million secured credit rating facility (the “Credit history Facility”) with Oxford Finance LLC (“Oxford”).

Bill Leonard, CEO of Greenbrook commented, “We are very delighted to complete this financial debt financing that supplies us with an quick US$15 million of minimally dilutive money to strengthen our equilibrium sheet and fund our ongoing growth. The up to US$15 million in delayed attract tranches will allow us to prudently use further credit card debt as we more increase our community of Greenbrook TMS centers via both of those our organic and natural growth method and possible acquisitions.”

The Credit rating Facility delivers a US$15 million time period financial loan which was funded at closing and an option of drawing up to an further US$15 million in a few US$5 million delayed-attract time period mortgage tranches within just the subsequent 24 months, topic to reaching specific fiscal milestones. All amounts borrowed beneath the Credit rating Facility will bear interest at a charge equivalent to 30-working day LIBOR plus 7.75%, topic to a minimum fascination level of 8.75%. The Credit history Facility has a 5-yr phrase and amortizes in excess of the lifetime of the Credit history Facility with 1% of the principal quantity remarkable amortized more than yrs a person to 4 with the remaining outstanding principal repaid in equal installments about the fifth yr.

As thing to consider for providing the Credit score Facility, Greenbrook issued 256,535 frequent share buy warrants to Oxford (the “Warrants”). Each individual Warrant is exercisable for a single common share of Greenbrook at an work out value of C$2.24 per common share. The Warrants will expire on December 31, 2025.

Bloom Burton Securities Inc. acted as the Company’s sole money adviser in connection with the transaction.

About Oxford Finance LLC

Oxford is a specialty finance business delivering senior secured loans to general public and personal life sciences and healthcare providers firms worldwide. For about 20 decades, Oxford has delivered adaptable funding methods to its clients, enabling these companies to improve their equity by leveraging their property. In modern years, Oxford has originated above $6 billion in financial loans, with strains of credit rating ranging from $5 million to $150 million. Oxford is headquartered in Alexandria, Va., with added places of work in San Diego, Calif. Palo Alto, Calif. and the bigger Boston and New York Town places. For more information and facts, visit https://oxfordfinance.com/.

About Greenbrook TMS Inc.

Functioning by means of 125 Firm-operated cure centers, Greenbrook is a major supplier of TMS treatment, an Fda-cleared, non-invasive treatment for the procedure of Key Depressive Disorder and other mental overall health disorders, in the United States. TMS remedy gives area electromagnetic stimulation to precise mind locations identified to be right connected with mood regulation. Greenbrook has provided a lot more than 510,000 TMS therapies to around 14,000 clients battling with despair.

Cautionary Take note Concerning Ahead-Looking Information and facts

Sure details in this press release constitutes ahead-seeking data. In some conditions, but not essentially in all scenarios, forward-seeking facts can be recognized by the use of forward-looking terminology these kinds of as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variants of these kinds of terms and phrases or point out that specified steps, functions or outcomes “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to anticipations, projections or other characterizations of long run activities or situations comprise forward-hunting information and facts. Statements made up of ahead-searching facts are not historic info but as an alternative signify management’s anticipations, estimates and projections relating to future gatherings.

Ahead-on the lookout facts is automatically based mostly on a variety of opinions, assumptions and estimates that, even though considered reasonable by the Company as of the date of this press release, are matter to recognized and unknown threats, uncertainties, assumptions and other elements that may well bring about the actual final results, stage of action, efficiency or achievements to be materially unique from all those expressed or implied by this kind of ahead-hunting facts, such as but not confined to the factors explained in larger depth in the “Risk Factors” part of the Company’s present-day yearly info sort offered at www.sedar.com. These factors are not supposed to stand for a total list of the components that could have an affect on the Business even so, these things really should be considered thoroughly. There can be no assurance that this kind of estimates and assumptions will establish to be suitable. The forward-seeking statements contained in this push launch are made as of the day of this push launch, and the Firm expressly disclaims any obligation to update or alter statements that contains any forward-seeking facts, or the things or assumptions underlying them, no matter if as a outcome of new details, upcoming events or normally, besides as needed by legislation.

Glen Akselrod

Investor Relations

Greenbrook TMS Inc.

[email protected]

1-855-797-4867

Perspective supply version on businesswire.com: https://www.businesswire.com/information/home/20201231005168/en/

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