GBNH - Greenbrook raises $1.9M amends deal with Madryn Fund to defer interest payment
2023-10-03 17:15:59 ET
- Greenbrook TMS ( NASDAQ: GBNH ) Tuesday announced that it received an aggregate of $1.9M in debt financing via the issuance of unsecured subordinated convertible promissory notes.
- Additionally, the company amended the Madryn Credit Facility to defer the September 30 interest payment due date and extend the period during which the company's minimum liquidity covenant is reduced from $3M to $300,000 to October 15.
- The proceeds of the subordinated convertible notes issue were to be used by the company for general corporate and working capital purposes.
- The company is also currently considering additional near-term financing options to address its future liquidity needs, Greenbrook added.
- GBNH +10.55% after hours to $0.2819
- Source: Press Release
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Greenbrook raises $1.9M, amends deal with Madryn Fund to defer interest payment