Greenbrook TMS completes C$30 million equity offering

On May 17, 2019, Greenbrook TMS Inc. ("Greenbrook") announced that it completed its previously announced bought deal public offering and concurrent private placement of common shares for total gross proceeds of C$30,579,250.

Both offerings were completed on a bought deal basis by a syndicate of underwriters led by Bloom Burton Securities Inc., and that included Clarus Securities Inc., Desjardins Capital Markets and GMP Securities L.P. The public offering of 4,025,000 common shares at a price of C$3.25 per common share, for gross proceeds of C$13,081,250, included 525,000 common shares issued pursuant to the full exercise of an over-allotment option offered to the underwriters. The concurrent private placement of 5,384,000 common shares was purchased by an institutional investor at the issue price, for gross proceeds of C$17,498,000.

The company intends to use the net proceeds from the offerings for the development of new TMS centers, for potential acquisitions and for working capital and general corporate purposes.

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

Greenbrook, operating through 71 company-operated treatment centers, is a leading provider of Transcranial Magnetic Stimulation (TMS), an FDA-cleared, non-invasive therapy for the treatment of Major Depressive Disorder and other mental health disorders, in the United States.