Greenbrook TMS amends master sales agreement with Neuronetics

Greenbrook TMS (GBNH) announced that the company has amended its amended and restated master sales agreement between the company and Neuronetics (STIM), pursuant to which the company and Neuronetics have agreed to convert the company’s outstanding account balance payable to Neuronetics for the supply of TMS devices and treatment sessions to the company from Neuronetics in the amount of approximately $5.7M, together with Neuronetics’ out-of-pocket transaction costs, into a $6M secured promissory note. The Neuronetics Note, together with the company’s recently-announced restructuring plan and $8.25M equity and debt financings, is expected to provide additional cash flow relief to the company.