Greenbrook TMS completes US$23.5 million private placement

On June 14, 2021, Greenbrook TMS Inc. (“Greenbrook”) completed a non-brokered private placement of common shares. Pursuant to the private placement, an aggregate of 2,353,347 common shares were issued at a price of US$10.00 per share, for aggregate gross proceeds of US$23.5 million. The financing was led by new investor Masters Special Situations, LLC and affiliates ("MSS"). Additional new investors, including BioStar Capital, also participated in the financing, along with existing investors, Greybrook Health Inc. and 1315 Capital II, L.P.

Greenbrook intends to use the proceeds from the private placement for the development of new mental health service centers that specialize in Transcranial Magnetic Stimulation (“TMS”) treatment as well as working capital and general corporate purposes.

Further information can be found on Business Wire’s website.

Greenbrook, operating through 128 company-operated treatment centers, is a leading provider of TMS therapy, an FDA-cleared, non-invasive therapy for the treatment of Major Depressive Disorder and other mental health disorders, in the United States.

MSS invests growth capital in innovative, small cap public companies in North America.