NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES NEWS
TORONTO–(BUSINESS WIRE)–Greenbrook TMS Inc. (TSX:GTMS) (“Greenbrook” or the “Company”),
a leading provider of Transcranial Magnetic Stimulation (“TMS”)
therapy in the United States, announced today that it has completed its
previously announced bought deal public offering and concurrent private
placement (the “Offerings”) for total gross proceeds of
The Offerings were both 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. (collectively, the “Underwriters”). The public offering of
4,025,000 common shares (the “Common Shares”) at a price of
C$3.25 per Common Share (the “Issue Price”), for gross proceeds
of C$13,081,250 included 525,000 Common Shares issued pursuant to the
full exercise of the Underwriters’ over-allotment option. The concurrent
bought deal private placement of 5,384,000 Common Shares were purchased
by 1315 Capital II, LP at the Issue Price, for gross proceeds of
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.
The securities offered have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or an applicable exemption from
the registration requirements. This news release shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall there be
any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About Greenbrook TMS Inc.
Operating through 71 Company-operated treatment centers, Greenbrook is a
leading provider of TMS, 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 250,000 TMS treatments to over 6,500 patients struggling with
Certain information in this press release constitutes forward-looking
information, including the intended use of the net proceeds from the
Offerings. 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”, “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 final
prospectus of the Company prepared in connection with the Public
Offering and the Company’s annual information form dated March 27, 2019
which are available at www.sedar.com.
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.
Chief Financial Officer and Treasurer
Greenbrook TMS Inc.