Greenbrook TMS Completes US$13.2 Million Bought Deal Public Offering
September 27 2021 - 8:47AM
Business Wire
Greenbrook TMS Inc. (TSX: GTMS) (NASDAQ: GBNH)
(“Greenbrook” or the “Company”), a leading provider
of Transcranial Magnetic Stimulation (“TMS”) therapy in the
United States, is pleased to announce the closing of its
previously-announced public offering (the “Offering”). The
Offering was made pursuant to an underwriting agreement entered
into among Stifel GMP, Bloom Burton Securities Inc. and Lake Street
Capital Markets, LLC (collectively, the “Underwriters”).
Pursuant to the Offering, the Company issued a total of
1,707,750 common shares of the Company (the “Common Shares”)
at a price of US$7.75 per Common Share for gross proceeds of
approximately US$13.2 million, including 222,750 Common Shares
issued pursuant to the full exercise of the Underwriters’
over-allotment option. The Company intends to use the net proceeds
from the Offering to fund its previously-announced acquisition of
Achieve TMS East, LLC and Achieve TMS Central, LLC and for working
capital and general corporate purposes.
The Common Shares were qualified for sale by way of a prospectus
supplement (the “Prospectus Supplement”) to the Company’s
short form base shelf prospectus dated July 22, 2021 (the “Base
Shelf Prospectus”) in the United States and Canada. The
Prospectus Supplement was also filed with the U.S. Securities and
Exchange Commission (the “SEC”) to the Base Shelf Prospectus
as part of the Company’s effective registration statement on Form
F-10 previously filed under the U.S./Canada multi-jurisdictional
disclosure system.
Clarus Securities Inc. and Desjardins Securities Inc. served as
independent financial advisors to the Company in connection with
the Offering.
No securities regulatory authority has either approved or
disapproved of the contents of this press release. This press
release is for informational purposes only and shall not constitute
an offer to sell or the solicitation of an offer to buy securities,
nor will there be any sale of the securities in any province,
territory, state or jurisdiction in which such offer, solicitation
or sale would be unlawful prior to the registration or
qualification under the securities laws of any such province,
territory, state or jurisdiction.
About Greenbrook TMS Inc.
Operating through 132 Company-operated treatment centers,
Greenbrook 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. TMS
therapy provides local electromagnetic stimulation to specific
brain regions known to be directly associated with mood regulation.
Greenbrook has provided more than 675,000 TMS treatments to over
19,000 patients struggling with depression.
Forward-Looking Statements:
Certain information in this press release, including statements
regarding the anticipated use of the net proceeds of the Offering,
constitutes forward-looking information within the meaning of
applicable securities laws in Canada and the United States,
including the United States Private Securities Litigation Reform
Act of 1995. In some cases, but not necessarily in all cases,
forward-looking information can be identified by the use of
forward-looking terminology such as “plans”, “targets”, “expects”
or “does not expect”, “is expected”, “should”, “an opportunity
exists”, “is positioned”, “estimates”, “intends”, “assumes”,
“anticipates” or “does not anticipate” or “believes”, or variations
of such words and phrases or state that certain actions, events or
results “may”, “could”, “would”, “might”, “will” or “will be
taken”, “occur” or “be achieved”. In addition, any statements that
refer to expectations, projections or other characterizations of
future events or circumstances contain forward-looking information.
Statements containing forward-looking information are not
historical facts but instead represent management’s expectations,
estimates and projections regarding future events.
Forward-looking information is necessarily based on a number of
opinions, assumptions and estimates that, while considered
reasonable by the Company as of the date of this press release, are
subject to known and unknown risks, uncertainties, assumptions and
other factors that may cause the actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such forward-looking information, including
but not limited to the factors described in greater detail in the
“Risk Factors” section of the Company’s current annual information
form and in the Company’s other materials filed with the Canadian
securities regulatory authorities and the SEC from time to time,
available at www.sedar.com and www.sec.gov, respectively. These
factors are not intended to represent a complete list of the
factors that could affect the Company; however, these factors
should be considered carefully. There can be no assurance that such
estimates and assumptions will prove to be correct. The
forward-looking statements contained in this press release are made
as of the date of this press release, and the Company expressly
disclaims any obligation to update or alter statements containing
any forward-looking information, or the factors or assumptions
underlying them, whether as a result of new information, future
events or otherwise, except as required by law.
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For further information contact: Glen Akselrod Investor
Relations Greenbrook TMS Inc. Contact information:
investorrelations@greenbrooktms.com 1-855-797-4867
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