TORONTO - Greenbrook TMS Inc. (NASDAQ: GBNH), a provider of Transcranial Magnetic Stimulation (TMS) therapy for depression, has entered into agreements with institutional investors for a registered direct offering of 6 million common shares. Priced at $0.20 per share, the transaction is expected to yield gross proceeds of approximately $1.2 million before deductions for commissions and estimated offering expenses.
The offering's closure is anticipated around February 26, 2024, contingent on customary closing conditions. Greenbrook intends to allocate the net proceeds towards working capital and general corporate purposes.
A.G.P./Alliance Global Partners (NYSE:GLP) is serving as the exclusive placement agent for this offering, which is conducted under an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (SEC).
Greenbrook operates 130 treatment centers across the United States, offering FDA-cleared, non-invasive therapies for Major Depressive Disorder (MDD) and other mental health disorders. The company has administered over 1.3 million treatments to more than 40,000 patients.
The information in this article is based on a press release statement from Greenbrook TMS Inc.
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