{"version":"company-facts.v1","source":"https://secwatch.observer","generated_at":"2026-07-11T04:30:07.990541+00:00","company":{"ticker":"BRLS","cik":1852973,"company_name":"Borealis Foods Inc."},"pagination":{"limit":100,"returned":69,"next_cursor":null},"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer","counterparties":{"contract_counterparty":[{"display_name":"Oxus Capital Pte Ltd.","detail":"credit_facility","count":2,"first_seen":"2026-05-01T23:59:59+00:00","last_seen":"2026-06-04T20:15:20+00:00","evidence_fact_ids":[22034,67420]},{"display_name":"1000397116 Ontario Inc., a wholly-owned subsidiary of Oxus","detail":"merger","count":1,"first_seen":"2023-08-17T23:59:59+00:00","last_seen":"2023-08-17T23:59:59+00:00","evidence_fact_ids":[118452]},{"display_name":"Belphar Ltd., Saule Algaziyeva, Aman Murat Baikadamuly, GSS Overseas LTD.","detail":"credit_facility","count":1,"first_seen":"2024-04-15T23:59:59+00:00","last_seen":"2024-04-15T23:59:59+00:00","evidence_fact_ids":[61868]},{"display_name":"Frontwell Capital Partners Inc.","detail":"credit_facility","count":1,"first_seen":"2026-04-02T23:59:59+00:00","last_seen":"2026-04-02T23:59:59+00:00","evidence_fact_ids":[25931]},{"display_name":"Oxus Acquisition Corp. and 1000397116 Ontario Inc.","detail":"merger","count":1,"first_seen":"2023-03-01T23:59:59+00:00","last_seen":"2023-03-01T23:59:59+00:00","evidence_fact_ids":[175090]},{"display_name":"Oxus Capital PTE Ltd., Reza Soltanzadeh, Barthelemy Helg","detail":"other","count":1,"first_seen":"2026-05-01T23:59:59+00:00","last_seen":"2026-05-01T23:59:59+00:00","evidence_fact_ids":[22035]},{"display_name":"Oxus and certain Borealis shareholders","detail":"asset_purchase","count":1,"first_seen":"2024-04-15T23:59:59+00:00","last_seen":"2024-04-15T23:59:59+00:00","evidence_fact_ids":[61867]}],"lender":[{"display_name":"Frontwell Capital Partners Inc.","detail":"credit_facility","count":6,"first_seen":"2025-11-19T23:59:59+00:00","last_seen":"2026-04-17T23:59:59+00:00","evidence_fact_ids":[29836,30726,30727,34077,36599,37828]},{"display_name":"Oxus Capital PTE Ltd.","detail":"term_loan","count":3,"first_seen":"2023-10-06T23:59:59+00:00","last_seen":"2026-06-04T20:15:20+00:00","evidence_fact_ids":[28907,67421,108175]},{"display_name":"Chairman of the Company’s Board of Directors","detail":"loan","count":1,"first_seen":"2025-08-19T23:59:59+00:00","last_seen":"2025-08-19T23:59:59+00:00","evidence_fact_ids":[42694]},{"display_name":"Chief Executive Officer and Chairman of the Board of Directors","detail":"loan","count":1,"first_seen":"2025-05-20T23:59:59+00:00","last_seen":"2025-05-20T23:59:59+00:00","evidence_fact_ids":[85765]}],"ma_counterparty":[{"display_name":"Oxus Acquisition Corp.","detail":"acquisition","count":2,"first_seen":"2024-02-13T23:59:59+00:00","last_seen":"2024-04-15T23:59:59+00:00","evidence_fact_ids":[61872,75513]}]},"facts":[{"fact_type":"equity_issuance","fact_key":"21b1b0edefae05ac5574258507ebdc8431db6328","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-06-04T20:15:20+00:00","payload":{"action":"private_placement","consideration_text":"$3,000,000","effective_date":"2026-05-29","item_codes_triggered":["3.02"],"purchaser":"OXUS CAPITAL PTE LTD.","security_type":"convertible_note","shares_text":null},"claim":"Borealis Foods Inc. issued convertible note to OXUS CAPITAL PTE LTD. for $3,000,000.","evidence_excerpt":"Definitive Agreement. On May 29, 2026, Borealis Foods Inc. (the “Company”)\nissued a convertible promissory note to OXUS CAPITAL PTE LTD. (“Oxus”) in the principal amount of $3,000,000 (the “Note”).\nAs of the date of issuance, Oxus beneficially owned approximately 39.09% of the Company’s outstanding common shares and was the\nCompany’s largest shareholder. Oxus","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-26-065290","anchor_url":"https://secwatch.observer/filing/0001213900-26-065290#claim-21b1b0edefae05ac5574258507ebdc8431db6328","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026065290/0001213900-26-065290-index.htm"},{"fact_type":"debt_financing","fact_key":"131d70857dbf19e386bca3ea890e1598eee2acd7","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-06-04T20:15:20+00:00","payload":{"counterparty":"OXUS CAPITAL PTE LTD.","effective_date":"2026-05-29","event":"incurrence","instrument_type":"convertible_notes","interest_rate_text":"10% per annum","item_codes_triggered":["2.03"],"maturity_text":"the earlier of August 29, 2026 and the date on which the investor Oxus accelerates the obligations under the Note following an event of default","principal_text":"$3,000,000"},"claim":"Borealis Foods Inc. incurred convertible notes of $3,000,000 with OXUS CAPITAL PTE LTD. at 10% per annum maturing the earlier of August 29, 2026 and the date on which the investor Oxus accelerates the obligations under the Note following an event of default.","evidence_excerpt":"On the date of issuance, May 29, 2026, the Company became obligated under the Note in the aggregate principal amount of $3.0 million.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-26-065290","anchor_url":"https://secwatch.observer/filing/0001213900-26-065290#claim-131d70857dbf19e386bca3ea890e1598eee2acd7","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026065290/0001213900-26-065290-index.htm"},{"fact_type":"material_agreement","fact_key":"045ca566f31cffd207a2b5d44000bb3233d8f2ca","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-06-04T20:15:20+00:00","payload":{"action":"entry","agreement_name":"Note","agreement_type":"notes_offering","counterparty":"OXUS CAPITAL PTE LTD.","effective_date":"2026-05-29","item_codes_triggered":["1.01"],"value_text":"principal amount of $3,000,000"},"claim":"Borealis Foods Inc. entered into Note with OXUS CAPITAL PTE LTD. valued at principal amount of $3,000,000 (effective 2026-05-29).","evidence_excerpt":"On May 29, 2026, Borealis Foods Inc. (the “Company”) issued a convertible promissory note to OXUS CAPITAL PTE LTD. (“Oxus”) in the principal amount of $3,000,000 (the “Note”).","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-26-065290","anchor_url":"https://secwatch.observer/filing/0001213900-26-065290#claim-045ca566f31cffd207a2b5d44000bb3233d8f2ca","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026065290/0001213900-26-065290-index.htm"},{"fact_type":"exchange_compliance_notice","fact_key":"7f087591254e0cc1fc1f7de26be955d8aa38d2a4","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods 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Lis","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-26-061511","anchor_url":"https://secwatch.observer/filing/0001213900-26-061511#claim-7f087591254e0cc1fc1f7de26be955d8aa38d2a4","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026061511/0001213900-26-061511-index.htm"},{"fact_type":"executive_change","fact_key":"d417813fae","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-05-14T20:15:58+00:00","payload":{"action":"appointed","action_category":"appointment","departure_tone":"not_applicable","effective_date":"2026-05-11","interim":false,"role":"Director","role_category":"director","successor_name":null,"successor_named":false},"claim":"Pavel Mynzhanov was appointed as Director at Borealis Foods Inc..","evidence_excerpt":"Also on May 11, 2026, the Board appointed Zaure Algaziyeva and Pavel Mynzhanov to serve as directors of the Company until the next annual meeting of shareholders or until their respective successors are duly elected or appointed.","confidence":1.0,"filing_url":"https://secwatch.observer/filing/0001213900-26-056637","anchor_url":"https://secwatch.observer/filing/0001213900-26-056637#claim-d417813fae","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026056637/0001213900-26-056637-index.htm"},{"fact_type":"executive_change","fact_key":"35ed4151fc","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-05-14T20:15:58+00:00","payload":{"action":"appointed","action_category":"appointment","departure_tone":"not_applicable","effective_date":"2026-05-11","interim":false,"role":"Director","role_category":"director","successor_name":null,"successor_named":false},"claim":"Zaure Algaziyeva was appointed as Director at Borealis Foods Inc..","evidence_excerpt":"Also on May 11, 2026, the Board appointed Zaure Algaziyeva and Pavel Mynzhanov to serve as directors of the Company until the next annual meeting of shareholders or until their respective successors are duly elected or appointed.","confidence":1.0,"filing_url":"https://secwatch.observer/filing/0001213900-26-056637","anchor_url":"https://secwatch.observer/filing/0001213900-26-056637#claim-35ed4151fc","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026056637/0001213900-26-056637-index.htm"},{"fact_type":"executive_change","fact_key":"6e60aa7299","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-05-14T20:15:58+00:00","payload":{"action":"resigned","action_category":"departure","departure_tone":"routine","effective_date":"2026-05-11","interim":false,"role":"Director","role_category":"director","successor_name":null,"successor_named":false},"claim":"Shiv Khemka resigned as Director at Borealis Foods Inc..","evidence_excerpt":"On May 11, 2026, Mr. Shiv Khemka resigned from the Board of Directors (the “Board”) of the Company and from his positions as a member of the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee of the Board.","confidence":1.0,"filing_url":"https://secwatch.observer/filing/0001213900-26-056637","anchor_url":"https://secwatch.observer/filing/0001213900-26-056637#claim-6e60aa7299","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026056637/0001213900-26-056637-index.htm"},{"fact_type":"equity_issuance","fact_key":"7ebbde464e254d08e8821000f7b8734754828360","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-05-01T23:59:59+00:00","payload":{"action":"private_placement","consideration_text":"up to approximately $2.0 million in Year 1 Interest","effective_date":null,"item_codes_triggered":["3.02"],"purchaser":"Oxus Capital PTE Ltd.","security_type":"common_stock","shares_text":null},"claim":"Borealis Foods Inc. issued common stock to Oxus Capital PTE Ltd. for up to approximately $2.0 million in Year 1 Interest.","evidence_excerpt":"the Credit Agreement provides for the potential issuance of Common Shares to Oxus in satisfaction of up to approximately $2.0 million in Year 1 Interest at Oxus's election","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-26-050957","anchor_url":"https://secwatch.observer/filing/0001213900-26-050957#claim-7ebbde464e254d08e8821000f7b8734754828360","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026050957/0001213900-26-050957-index.htm"},{"fact_type":"equity_issuance","fact_key":"9db01eefde51d048404b01ae0a7f3ca31ee0279e","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-05-01T23:59:59+00:00","payload":{"action":"private_placement","consideration_text":"approximately $33.3 million in aggregate Indebtedness (inclusive of accrued interest)","effective_date":null,"item_codes_triggered":["3.02"],"purchaser":"Oxus Capital PTE Ltd., Reza Soltanzadeh, Barthelemy Helg","security_type":"common_stock","shares_text":null},"claim":"Borealis Foods Inc. issued common stock to Oxus Capital PTE Ltd., Reza Soltanzadeh, Barthelemy Helg for approximately $33.3 million in aggregate Indebtedness (inclusive of accrued interest).","evidence_excerpt":"the Conversion Agreement provides for the potential issuance of Common Shares to the Shareholders upon the automatic conversion of approximately $33.3 million in aggregate Indebtedness (inclusive of accrued interest)","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-26-050957","anchor_url":"https://secwatch.observer/filing/0001213900-26-050957#claim-9db01eefde51d048404b01ae0a7f3ca31ee0279e","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026050957/0001213900-26-050957-index.htm"},{"fact_type":"debt_financing","fact_key":"0370ba7e507bde5b77a3032deb6d619bad3d7a88","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-05-01T23:59:59+00:00","payload":{"counterparty":"Oxus Capital PTE Ltd.","effective_date":"2026-04-27","event":"incurrence","instrument_type":"term_loan","interest_rate_text":"12% per annum","item_codes_triggered":["2.03"],"maturity_text":"April 27, 2031","principal_text":"$17.0 million"},"claim":"Borealis Foods Inc. incurred term loan of $17.0 million with Oxus Capital PTE Ltd. at 12% per annum maturing April 27, 2031.","evidence_excerpt":"SPAC sponsor and a significant shareholder of\nthe Company. Pursuant to the Credit Agreement, Oxus provided\na term loan to the Borrowers in an aggregate principal amount of up to $17.0 million (the “Term Loan”). The obligations under\nthe Credit Agreement are guaranteed by the Company, Borealis IP Inc., and Palmetto Gourmet Foods (Canada) Inc. (collectively, the","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-26-050957","anchor_url":"https://secwatch.observer/filing/0001213900-26-050957#claim-0370ba7e507bde5b77a3032deb6d619bad3d7a88","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026050957/0001213900-26-050957-index.htm"},{"fact_type":"material_agreement","fact_key":"4f4c90a8763c1276de542b06a6b0fc06d64f7bee","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-05-01T23:59:59+00:00","payload":{"action":"entry","agreement_name":"Conversion Agreement","agreement_type":"other","counterparty":"Oxus Capital PTE Ltd., Reza Soltanzadeh, Barthelemy Helg","effective_date":"2026-04-27","item_codes_triggered":["1.01"],"value_text":"$29.1 million"},"claim":"Borealis Foods Inc. entered into Conversion Agreement with Oxus Capital PTE Ltd., Reza Soltanzadeh, Barthelemy Helg valued at $29.1 million (effective 2026-04-27).","evidence_excerpt":"on the Closing Date, the Company and certain of its subsidiaries entered into a Conversion Agreement (the \"Conversion Agreement\") with Oxus Capital PTE Ltd. (the Company's former SPAC sponsor and a significant shareholder), Reza Soltanzadeh (the Company's Chief Executive Officer and co-founder) and Barthelemy Helg (the Company's Chairman of the Board and co-founder) (collectively, the \"Shareholders\").","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-26-050957","anchor_url":"https://secwatch.observer/filing/0001213900-26-050957#claim-4f4c90a8763c1276de542b06a6b0fc06d64f7bee","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026050957/0001213900-26-050957-index.htm"},{"fact_type":"material_agreement","fact_key":"ef7f7f68c6769d50d2d2731e9c79268740f91ce8","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-05-01T23:59:59+00:00","payload":{"action":"entry","agreement_name":"Credit Agreement","agreement_type":"credit_facility","counterparty":"Oxus Capital Pte Ltd.","effective_date":"2026-04-27","item_codes_triggered":["1.01"],"value_text":"$17.0 million"},"claim":"Borealis Foods Inc. entered into Credit Agreement with Oxus Capital Pte Ltd. valued at $17.0 million (effective 2026-04-27).","evidence_excerpt":"On April 27, 2026 (the \"Closing Date\"), Palmetto Gourmet Foods, Inc., PGF Real Estate I, Inc., and PGF Real Estate II, Inc. (collectively, the \"Borrowers\"), each a wholly owned subsidiary of Borealis Foods Inc. (the \"Company\"), entered into a Credit Agreement (the \"Credit Agreement\") with Oxus Capital PTE Ltd. (\"Oxus\"), as lender.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-26-050957","anchor_url":"https://secwatch.observer/filing/0001213900-26-050957#claim-ef7f7f68c6769d50d2d2731e9c79268740f91ce8","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026050957/0001213900-26-050957-index.htm"},{"fact_type":"executive_change","fact_key":"cd32723d40","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-05-01T23:59:59+00:00","payload":{"action":"terminated","action_category":"departure","departure_tone":"routine","effective_date":"2026-04-27","interim":false,"role":"Chief Restructuring Officer","role_category":"other_named_officer","successor_name":null,"successor_named":false},"claim":"Jeffrey T. Varsalone was terminated as Chief Restructuring Officer at Borealis Foods Inc..","evidence_excerpt":"the engagement of Jeffrey T. Varsalone as Chief Restructuring Officer of the Company and its subsidiaries was terminated, effective immediately.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001213900-26-050957","anchor_url":"https://secwatch.observer/filing/0001213900-26-050957#claim-cd32723d40","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026050957/0001213900-26-050957-index.htm"},{"fact_type":"exchange_compliance_notice","fact_key":"df0fd41e43fef76407ffb48819cb490bdb5f287e","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-04-23T23:59:59+00:00","payload":{"company_response":null,"compliance_status":"plan_due","cure_deadline":"2026-06-16","deficiency_type":"late_filing","delisting_effective_date":null,"exchange":"nasdaq","hearing_date":null,"immediate_listing_effect":null,"minimum_requirement":null,"notice_date":"2026-04-17","notice_type":"deficiency_notice","plan_due_date":"2026-06-16","raw_rule_text":null,"reported_value":null,"rule_numbers":["5250(c)(1)"],"rules_cited_in_text":true},"claim":"Borealis Foods Inc. received a nasdaq deficiency notice notice regarding late filing (rules 5250(c)(1)).","evidence_excerpt":"April 17, 2026, a notice\n(the “ Notice ”) from The Nasdaq Stock Market LLC (“ Nasdaq ”) notifying the Company that, because the\nCompany has not yet filed the 2025 Form 10-K, the Company no longer complies with Nasdaq Lis","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-26-047085","anchor_url":"https://secwatch.observer/filing/0001213900-26-047085#claim-df0fd41e43fef76407ffb48819cb490bdb5f287e","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026047085/0001213900-26-047085-index.htm"},{"fact_type":"debt_financing","fact_key":"d2ff793dc459f421ccf0fe7c93391d14b92c9465","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-04-17T23:59:59+00:00","payload":{"counterparty":"Frontwell Capital Partners Inc.","effective_date":"2026-04-13","event":"acceleration","instrument_type":"credit_facility","interest_rate_text":"not specified","item_codes_triggered":["2.04"],"maturity_text":"not specified","principal_text":"at least $16,116,215.30"},"claim":"Borealis Foods Inc. faced acceleration on credit facility of at least $16,116,215.30 with Frontwell Capital Partners Inc. at not specified maturing not specified.","evidence_excerpt":"disclosed Events of Default under the Credit\nAgreement. As previously disclosed, as of March 25, 2026, outstanding obligations under the Credit Agreement were at least $16,116,215.30,\nexclusive of subsequently accrued interest, fees and expenses. The Forbearance Agreement required that the Loan Parties comply with\ncertain milestones, including providing the","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001213900-26-045167","anchor_url":"https://secwatch.observer/filing/0001213900-26-045167#claim-d2ff793dc459f421ccf0fe7c93391d14b92c9465","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026045167/0001213900-26-045167-index.htm"},{"fact_type":"debt_financing","fact_key":"5ed4da36e94dabd049d755053ea34c8e9fac6b0c","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-04-02T23:59:59+00:00","payload":{"counterparty":"Frontwell Capital Partners Inc.","effective_date":"2026-03-27","event":"amendment","instrument_type":"term_loan","interest_rate_text":"Applicable Margin of 6.75% per annum for the Term Loan","item_codes_triggered":["2.04"],"maturity_text":null,"principal_text":null},"claim":"Borealis Foods Inc. amended term loan with Frontwell Capital Partners Inc. at Applicable Margin of 6.75% per annum for the Term Loan.","evidence_excerpt":"increases the Applicable Margin for the Term Loan from 4.75% per annum to 6.75% per annum","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-26-039351","anchor_url":"https://secwatch.observer/filing/0001213900-26-039351#claim-5ed4da36e94dabd049d755053ea34c8e9fac6b0c","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026039351/0001213900-26-039351-index.htm"},{"fact_type":"debt_financing","fact_key":"f66f0a331e32a7f3fd7d9c882b7e6b068e32aa14","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-04-02T23:59:59+00:00","payload":{"counterparty":"Frontwell Capital Partners Inc.","effective_date":"2026-03-27","event":"amendment","instrument_type":"revolving_credit","interest_rate_text":"Applicable Margin of 6.50% per annum for Revolving Loans bearing interest at the","item_codes_triggered":["2.04"],"maturity_text":null,"principal_text":"$16,116,215.30"},"claim":"Borealis Foods Inc. amended revolving credit of $16,116,215.30 with Frontwell Capital Partners Inc. at Applicable Margin of 6.50% per annum for Revolving Loans bearing interest at the.","evidence_excerpt":"and warranties\nunder the Credit Agreement. Outstanding\nObligations. As\nof March 25, 2026, the aggregate outstanding Obligations under the Credit Agreement were no less than $16,116,215.30, plus all accrued\nand unpaid interest, fees and other costs and expenses then outstanding. Forbearance. Subject\nto the terms and conditions of the Forbearance Agreement, the","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-26-039351","anchor_url":"https://secwatch.observer/filing/0001213900-26-039351#claim-f66f0a331e32a7f3fd7d9c882b7e6b068e32aa14","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026039351/0001213900-26-039351-index.htm"},{"fact_type":"material_agreement","fact_key":"77c47c01bfa6ae6f4b30e730a4fb266e9e3f8ae8","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-04-02T23:59:59+00:00","payload":{"action":"amendment","agreement_name":"Forbearance and Amendment Agreement","agreement_type":"credit_facility","counterparty":"Frontwell Capital Partners Inc.","effective_date":"2026-03-27","item_codes_triggered":["1.01"],"value_text":null},"claim":"Borealis Foods Inc. amended Forbearance and Amendment Agreement with Frontwell Capital Partners Inc. 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(the “Company”) received\na letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that Nasdaq\nhas reviewed and accepted the Company’s plan to regain compliance with Nasdaq Listing Rule 5620(a), which requires listed companies\nto hold an annual meeting of shareholders within twelve months of the end of their fiscal year. As previously disclosed in the Company’s Current Report\non Form 8-K filed on January 16, 2026, the Company was notified on January 12, 2026 that it was not in compliance with Nasdaq Li","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-26-024674","anchor_url":"https://secwatch.observer/filing/0001213900-26-024674#claim-dd063bc9d37e9f0c54b01f043998a748dfad13e0","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026024674/0001213900-26-024674-index.htm"},{"fact_type":"debt_financing","fact_key":"0f81f5b45bebc241ed1c7705187a351b1d75a5eb","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-02-06T23:59:59+00:00","payload":{"counterparty":"Frontwell Capital Partners Inc.","effective_date":"2026-02-02","event":"default","instrument_type":"credit_facility","interest_rate_text":null,"item_codes_triggered":["2.04"],"maturity_text":null,"principal_text":null},"claim":"Borealis Foods Inc. reported a default on credit facility with Frontwell Capital Partners Inc..","evidence_excerpt":"On February 2, 2026, Borealis Foods Inc. (the \"Company\") received a letter from counsel to Frontwell Capital Partners Inc. 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In conjunction with this transaction, on January 13, 2026, the Company\nreceived notification from BPB that they were resigning as the Company’s independent registered public accounting firm, effective\nimmediately. On January 15, 2026, the Audit Committee of the Company’s Board of Directors approved the appointment of CRI as the\nCompany’s new independent registered public accounting firm.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-26-005154","anchor_url":"https://secwatch.observer/filing/0001213900-26-005154#claim-dfe729baf6eaf9b4792916ba4174b4d7549a137b","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026005154/0001213900-26-005154-index.htm"},{"fact_type":"auditor_change","fact_key":"b7f2d3a0b6d01e6d0411925cd0163e4da0cb2561","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-01-16T23:59:59+00:00","payload":{"action":"resignation","auditor_name":"Berkowitz Pollack Brant Advisors + CPAs, LLP","disagreement_text":null,"effective_date":"2026-01-13","item_codes_triggered":["4.01"],"non_reliance_signal":"none","successor_auditor_name":"Carr, Riggs & Ingram, LLC"},"claim":"Berkowitz Pollack Brant Advisors + CPAs, LLP resigned as auditor of Borealis Foods Inc..","evidence_excerpt":"f Berkowitz Pollack Brant Advisors + CPAs, LLP (“BPB”). In conjunction with this transaction, on January 13, 2026, the Company\nreceived notification from BPB that they were resigning as the Company’s independent registered public accounting firm, effective","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-26-005154","anchor_url":"https://secwatch.observer/filing/0001213900-26-005154#claim-b7f2d3a0b6d01e6d0411925cd0163e4da0cb2561","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026005154/0001213900-26-005154-index.htm"},{"fact_type":"exchange_compliance_notice","fact_key":"f3e567b262fecb1dc155752191db1610380212a3","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2026-01-16T23:59:59+00:00","payload":{"company_response":"The Company intends to submit a compliance plan within the required timeframe and, subject to Nasdaq’s acceptance of such plan, regain compliance with Nasdaq’s continued listing requirements by holding a meeting of shareholders prior to June 29, 2026.","compliance_status":"plan_due","cure_deadline":"2026-02-26","deficiency_type":"other","delisting_effective_date":null,"exchange":"nasdaq","hearing_date":null,"immediate_listing_effect":false,"minimum_requirement":null,"notice_date":"2026-01-12","notice_type":"deficiency_notice","plan_due_date":"2026-02-26","raw_rule_text":"Nasdaq Listing Rule 5620(a)","reported_value":null,"rule_numbers":["5620(a)"],"rules_cited_in_text":true},"claim":"Borealis Foods Inc. received a nasdaq deficiency notice notice regarding other (rules 5620(a)).","evidence_excerpt":"January 12, 2026, Borealis Foods Inc. (the “Company”)\nreceived a written notice (the “Notice”) from the Listing Qualifications Department of Nasdaq Stock Market LLC (“Nasdaq”)\nindicating that the Company is not in compliance with Nasdaq Listing Rule 5620(a), which requires listed companies to hold an annual meeting\nof shareholders within twelve months of the end of their fiscal year. The\nNotice indicates that the Company has 45 calendar days, or until February 26, 2026, to submit a plan to regain compliance. If the plan\nis accepted, Nasdaq may grant the Company an exception of up to 180 calend","confidence":0.97,"filing_url":"https://secwatch.observer/filing/0001213900-26-005154","anchor_url":"https://secwatch.observer/filing/0001213900-26-005154#claim-f3e567b262fecb1dc155752191db1610380212a3","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026005154/0001213900-26-005154-index.htm"},{"fact_type":"debt_financing","fact_key":"f6f8ed6e4836a2c1049c86aff5a35aeb44d91b21","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2025-12-16T23:59:59+00:00","payload":{"counterparty":"Frontwell Capital Partners Inc.","effective_date":"2025-12-10","event":"default","instrument_type":"credit_facility","interest_rate_text":"Default Rate, as defined in the Credit Agreement to mean, for any obligation und","item_codes_triggered":["2.04"],"maturity_text":null,"principal_text":"USD $15,000,000"},"claim":"Borealis Foods Inc. reported a default on credit facility of USD $15,000,000 with Frontwell Capital Partners Inc. at Default Rate, as defined in the Credit Agreement to mean, for any obligation und.","evidence_excerpt":"Lender has (a) made certain term loans (the “Term\nLoans”) to certain of such subsidiaries of the Company (collectively, the “Borrowers”) in the aggregate principal amount\nof USD $15,000,000 and (b) agreed to make, from time to time, certain revolving loans (the “Revolving Loans”) to the Borrowers\nin the aggregate principal amount of up to USD $10,000,000, subject to","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-25-122266","anchor_url":"https://secwatch.observer/filing/0001213900-25-122266#claim-f6f8ed6e4836a2c1049c86aff5a35aeb44d91b21","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390025122266/0001213900-25-122266-index.htm"},{"fact_type":"debt_financing","fact_key":"020a62c8dcaefe9cf78639c511101e2ca40a97c5","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2025-11-19T23:59:59+00:00","payload":{"counterparty":"Frontwell Capital Partners Inc.","effective_date":"2025-11-13","event":"default","instrument_type":"credit_facility","interest_rate_text":null,"item_codes_triggered":["2.04"],"maturity_text":null,"principal_text":"aggregate principal amount of USD $15,000,000 and ... up to USD $10,000,000"},"claim":"Borealis Foods Inc. reported a default on credit facility of aggregate principal amount of USD $15,000,000 and ... up to USD $10,000,000 with Frontwell Capital Partners Inc..","evidence_excerpt":"Lender has (a) made certain term loans (the “Term Loans”) to certain of such subsidiaries of the Company\n(collectively, the “Borrowers”) in the aggregate principal amount of USD $15,000,000 and (b) agreed to make, from time to\ntime, certain revolving loans (the “Revolving Loans”) to the Borrowers in the aggregate principal amount of up to USD $10,000,000,\nsubject to","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-25-112705","anchor_url":"https://secwatch.observer/filing/0001213900-25-112705#claim-020a62c8dcaefe9cf78639c511101e2ca40a97c5","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390025112705/0001213900-25-112705-index.htm"},{"fact_type":"exchange_compliance_notice","fact_key":"819a17820942610b62e43242d50a36a19374cf95","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2025-09-04T23:59:59+00:00","payload":{"company_response":null,"compliance_status":"plan_due","cure_deadline":null,"deficiency_type":"audit_committee","delisting_effective_date":null,"exchange":"nasdaq","hearing_date":null,"immediate_listing_effect":null,"minimum_requirement":null,"notice_date":"2025-08-29","notice_type":"deficiency_notice","plan_due_date":null,"raw_rule_text":"audit committee composition requirement set forth in Nasdaq Listing Rule 5605(c)(2)(A); Consistent with Nasdaq Listing Rule 5605(c)(4); Rule 10A-3(b)(1) under the Securities Exchange Act of 1934","reported_value":null,"rule_numbers":["5605(c)(2)(A)","5605(c)(4)","10A-3"],"rules_cited_in_text":true},"claim":"Borealis Foods Inc. received a nasdaq deficiency notice notice regarding audit committee (rules 5605(c)(2)(A), 5605(c)(4), 10A-3).","evidence_excerpt":"August 29, 2025, Borealis Foods Inc. (the “Company”) received\na notice (the “Notice”) from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) stating\nthat the Company is not in compliance with the audit committee composition requirement set forth in Nasdaq Listing Rule 5605(c)(2)(A)\n(the “Nasdaq Composition Requirements”) due to the resignation of Kanat Mynzhanov from the Company’s board of directors\n(the “Board”). As described in the Company’s Current Report on Form 8-K, which was filed with the SEC on January 6,\n2025. Specifically, when the Notice was issued, the","confidence":0.98,"filing_url":"https://secwatch.observer/filing/0001213900-25-084534","anchor_url":"https://secwatch.observer/filing/0001213900-25-084534#claim-819a17820942610b62e43242d50a36a19374cf95","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390025084534/0001213900-25-084534-index.htm"},{"fact_type":"debt_financing","fact_key":"0ac9f8250a50f39ca0a4287b88ff4fb401f392ac","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2025-08-19T23:59:59+00:00","payload":{"counterparty":"Chairman of the Company’s Board of Directors","effective_date":"2025-08-15","event":"incurrence","instrument_type":"loan","interest_rate_text":"10% per annum","item_codes_triggered":["2.03"],"maturity_text":"due on demand","principal_text":"$980,000"},"claim":"Borealis Foods Inc. incurred loan of $980,000 with Chairman of the Company’s Board of Directors at 10% per annum maturing due on demand.","evidence_excerpt":"issued promissory notes to the Company’s Chairman of the Company’s Board of Directors (the “Chairman”) in the aggregate principal amount of $980,000 (the “Promissory Notes”). The Promissory Notes bears interest at a rate of 10% per annum and are due on demand.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-25-078601","anchor_url":"https://secwatch.observer/filing/0001213900-25-078601#claim-0ac9f8250a50f39ca0a4287b88ff4fb401f392ac","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390025078601/0001213900-25-078601-index.htm"},{"fact_type":"debt_financing","fact_key":"6935ed9328d5b24d4776a0775dd4890b0b1fa9ad","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2025-05-20T23:59:59+00:00","payload":{"counterparty":"Chief Executive Officer and Chairman of the Board of Directors","effective_date":"2025-05-20","event":"incurrence","instrument_type":"loan","interest_rate_text":"10% per annum","item_codes_triggered":["2.03"],"maturity_text":"due on demand","principal_text":"aggregate principal amount of $2,785,000"},"claim":"Borealis Foods Inc. incurred loan of aggregate principal amount of $2,785,000 with Chief Executive Officer and Chairman of the Board of Directors at 10% per annum maturing due on demand.","evidence_excerpt":"On May 20, 2025, Borealis Foods Inc. (the \"Company\") issued promissory notes to the Company's Chief Executive Officer (the \"CEO\") and Chairman of the Company's Board of Directors (the \"Chairman\") in the aggregate principal amount of $2,785,000 (the \"Promissory Notes\"). The Promissory Notes bears interest at a rate of 10% per annum and are due on demand.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001213900-25-045949","anchor_url":"https://secwatch.observer/filing/0001213900-25-045949#claim-6935ed9328d5b24d4776a0775dd4890b0b1fa9ad","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390025045949/0001213900-25-045949-index.htm"},{"fact_type":"executive_change","fact_key":"9f1d93ba6d","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2025-01-06T23:59:59+00:00","payload":{"action":"resigned","action_category":"departure","departure_tone":"routine","effective_date":"2025-02-01","interim":false,"role":"Director","role_category":"director","successor_name":null,"successor_named":false},"claim":"Kanat Mynzhanov resigned as Director at Borealis Foods Inc..","evidence_excerpt":"On January 3, 2025, Kanat Mynzhanov provided notice of his decision to resign from the Board of Directors (the “Board”) of Borealis Foods Inc. to focus on his ongoing responsibilities as CEO of Tavia Acquisition Corp. Mr. Mynzhanov’s resignation is effective as of February 1, 2025, and did not result from any disagreement with the Company concerning any matter relating to the Company’s operations, polices, or practices.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001213900-25-001158","anchor_url":"https://secwatch.observer/filing/0001213900-25-001158#claim-9f1d93ba6d","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390025001158/0001213900-25-001158-index.htm"},{"fact_type":"earnings_release","fact_key":"68708c88da8d776259d87c7a419f3e3d50a54a3c","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2024-04-16T23:59:59+00:00","payload":{"eps_text":null,"guidance_signal":"none","item_codes_triggered":["2.02"],"net_income_text":null,"period_text":"2023","report_date":"2024-04-16","result_type":"reported_results","revenue_text":null},"claim":"Borealis Foods Inc. reported financial results for 2023.","evidence_excerpt":"Reflecting on 2023, I am proud to acknowledge the remarkable strides Borealis has made, and I extend my deepest gratitude to our dedicated team for their unwavering commitment. Borealis had a remarkable 2023, marking yet another year of revenue growth and achievements across all our business initiatives, while maintaining our steadfast commitment to our cause and core values.","confidence":0.4,"filing_url":"https://secwatch.observer/filing/0001213900-24-033164","anchor_url":"https://secwatch.observer/filing/0001213900-24-033164#claim-68708c88da8d776259d87c7a419f3e3d50a54a3c","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390024033164/0001213900-24-033164-index.htm"},{"fact_type":"governance_change","fact_key":"42296ca550b79a11f3f4ae01ab9f6f368eee776d","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2024-04-15T23:59:59+00:00","payload":{"change_type":"shell_status","effective_date":"2024-02-07","item_codes_triggered":["5.06"],"summary_text":"Oxus ceased being a shell company as a result of the transaction on February 7, 2024."},"claim":"Borealis Foods Inc.: Oxus ceased being a shell company as a result of the transaction on February 7, 2024 (effective 2024-02-07).","evidence_excerpt":"As a result of the Transaction, on February 7, 2024, Oxus ceased being a shell company.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001213900-24-032971","anchor_url":"https://secwatch.observer/filing/0001213900-24-032971#claim-42296ca550b79a11f3f4ae01ab9f6f368eee776d","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390024032971/0001213900-24-032971-index.htm"},{"fact_type":"governance_change","fact_key":"0e8ff4e6ec57824e6d58457e5065e18cc00aba7c","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2024-04-15T23:59:59+00:00","payload":{"change_type":"code_of_ethics","effective_date":"2024-02-07","item_codes_triggered":["5.05"],"summary_text":"New Borealis Board adopted a new code of business conduct and ethics effective February 7, 2024."},"claim":"Borealis Foods Inc.: New Borealis Board adopted a new code of business conduct and ethics effective February 7, 2024 (effective 2024-02-07).","evidence_excerpt":"on February 7, 2024 and effective as of such date, the New Borealis Board adopted a new code of business conduct and ethics (the “ Code of Ethics ”) applicable to directors, officers, and employees of New Borealis and its subsidiaries.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001213900-24-032971","anchor_url":"https://secwatch.observer/filing/0001213900-24-032971#claim-0e8ff4e6ec57824e6d58457e5065e18cc00aba7c","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390024032971/0001213900-24-032971-index.htm"},{"fact_type":"governance_change","fact_key":"3c3a085426bdab8bea9769a72e21d99d122a0e7a","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2024-04-15T23:59:59+00:00","payload":{"change_type":"charter_amendment","effective_date":"2024-02-07","item_codes_triggered":["5.03"],"summary_text":"Articles of Amalgamation were filed for New 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Shareholders agreed to vote their Borealis Common Shares in favor of the Transaction and not to sell.","evidence_excerpt":"Concurrently with the execution of the Business Combination Agreement, Borealis entered into Shareholder Support Agreements with Oxus and certain Borealis shareholders.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-24-032971","anchor_url":"https://secwatch.observer/filing/0001213900-24-032971#claim-999a1e01a26b97ebc3e5db5fbe28e3404f1bf0fb","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390024032971/0001213900-24-032971-index.htm"},{"fact_type":"governance_change","fact_key":"fc845ececdbf2bb9f903837791ab4a28903fd444","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2024-02-13T23:59:59+00:00","payload":{"change_type":"shell_status","effective_date":"2024-02-07","item_codes_triggered":["5.06"],"summary_text":"Oxus ceased being a shell company on February 7, 2024 as a result of the 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contemplated thereby at the 2024-02-02 meeting.","evidence_excerpt":"The proposal to approve the Business Combination Agreement and the transactions contemplated thereby was approved.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-24-009745","anchor_url":"https://secwatch.observer/filing/0001213900-24-009745#claim-26927b8786341ce0d72ea75d77844bbf3c3a3bf8","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390024009745/0001213900-24-009745-index.htm"},{"fact_type":"governance_change","fact_key":"e1815320a619b24ae2f81b658610790db2a173bf","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2023-12-07T23:59:59+00:00","payload":{"change_type":"charter_amendment","effective_date":"2023-12-05","item_codes_triggered":["5.03"],"summary_text":"Extended the date to consummate a business combination from December 8, 2023 to June 8, 2024."},"claim":"Borealis Foods Inc.: Extended the date to consummate a business combination from December 8, 2023 to June 8, 2024 (effective 2023-12-05).","evidence_excerpt":"On December 5, 2023, in connection with the Extraordinary General Meeting (as defined below), Oxus Acquisition Corp. (the “Company”) filed an amendment (the “Charter Amendment”) to the Company’s Second Amended and Restated Memorandum and Articles of Association (the “Charter”) with the Registrar of Companies in the Cayman Islands to extend the date by which the Company must consummate its initial business combination from December 8, 2023 to June 8, 2024, or such earlier date as determined by the Company’s board of directors (the “Extended Date”).","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-23-094053","anchor_url":"https://secwatch.observer/filing/0001213900-23-094053#claim-e1815320a619b24ae2f81b658610790db2a173bf","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390023094053/0001213900-23-094053-index.htm"},{"fact_type":"shareholder_vote","fact_key":"4bfd39e8427b9b13dc144aefbb6226c09789a950","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2023-12-07T23:59:59+00:00","payload":{"item_codes_triggered":["5.07"],"meeting_date":"2023-12-05","outcome":"passed","proposal_text":"Amend the Charter to extend the date that the Company has to consummate a business combination from December 8, 2023 to the Extended Date.","proposal_type":"charter_amendment","results":[{"broker_non_votes":null,"subject":null,"votes_abstain":"0","votes_against":"66,654","votes_for":"5,678,327","votes_withheld":null}]},"claim":"Borealis Foods Inc. shareholders approved Amend the Charter to extend the date that the Company has to consummate a business combination from December 8, 2023 to the Extended Date. at the 2023-12-05 meeting.","evidence_excerpt":"The Extension Proposal was approved. The voting results of the ordinary shares were as follows: For Against Abstain 5,678,327 66,654 0","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-23-094053","anchor_url":"https://secwatch.observer/filing/0001213900-23-094053#claim-4bfd39e8427b9b13dc144aefbb6226c09789a950","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390023094053/0001213900-23-094053-index.htm"},{"fact_type":"debt_financing","fact_key":"9c0a0cc52c67ffb8b937537bdb1775708ba2c6a9","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2023-10-06T23:59:59+00:00","payload":{"counterparty":"Oxus Capital PTE. 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LTD (the “ Sponsor ”) pursuant to which Oxus may borrow up to an aggregate principal amount of $6,000,000.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001013762-23-002548","anchor_url":"https://secwatch.observer/filing/0001013762-23-002548#claim-9c0a0cc52c67ffb8b937537bdb1775708ba2c6a9","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000101376223002548/0001013762-23-002548-index.htm"},{"fact_type":"material_agreement","fact_key":"7fe6a15305a471fea5b3e3c762f6cb0a55cc75bf","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2023-08-17T23:59:59+00:00","payload":{"action":"amendment","agreement_name":"Amendment","agreement_type":"merger","counterparty":"1000397116 Ontario Inc., a wholly-owned subsidiary of Oxus","effective_date":"2023-08-11","item_codes_triggered":["1.01"],"value_text":null},"claim":"Borealis Foods Inc. amended Amendment with 1000397116 Ontario Inc., a wholly-owned subsidiary of Oxus (effective 2023-08-11).","evidence_excerpt":"Amendment to the Business Combination Agreement On August 11, 2023, Oxus\nAcquisition Corp., an exempted company limited by shares incorporated under the laws of the Cayman Islands (“Oxus”), 1000397116","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-23-068568","anchor_url":"https://secwatch.observer/filing/0001213900-23-068568#claim-7fe6a15305a471fea5b3e3c762f6cb0a55cc75bf","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390023068568/0001213900-23-068568-index.htm"},{"fact_type":"exchange_compliance_notice","fact_key":"30ccf40501411d63f9b35722506aaca521301473","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2023-06-13T23:59:59+00:00","payload":{"company_response":null,"compliance_status":"deficient","cure_deadline":null,"deficiency_type":"shareholders","delisting_effective_date":null,"exchange":"nasdaq","hearing_date":null,"immediate_listing_effect":null,"minimum_requirement":null,"notice_date":"2023-06-12","notice_type":"deficiency_notice","plan_due_date":"2023-07-27","raw_rule_text":null,"reported_value":null,"rule_numbers":["5550(a)(3)"],"rules_cited_in_text":true},"claim":"Borealis Foods Inc. received a nasdaq deficiency notice notice regarding shareholders (rules 5550(a)(3)).","evidence_excerpt":"June 12, 2023, Oxus Acquisition Corp. (the “Company”) received a written notice (the “Notice”) from the listing\nqualifications department staff of The Nasdaq Stock Market (“Nasdaq”) notifying the Company that the Company was not in compliance\nwith Listing Rule 5550(a)(3) (the “Minimum Public Holders Rule”), which requires the Company to have at least 300 public\nholders for continued listing on the Nasdaq Capital Market. The Notice is only a notification of deficiency, not of imminent delisting,\nand has no current effect on the listing or trading of the Company’s securities on the Nasdaq Capita","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-23-048585","anchor_url":"https://secwatch.observer/filing/0001213900-23-048585#claim-30ccf40501411d63f9b35722506aaca521301473","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390023048585/0001213900-23-048585-index.htm"},{"fact_type":"governance_change","fact_key":"cfe0fc0af4c68dded98b2147dcd39bfb2c6d0e3f","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2023-03-03T23:59:59+00:00","payload":{"change_type":"charter_amendment","effective_date":"2023-03-02","item_codes_triggered":["5.03"],"summary_text":"Provided holders of Class B ordinary shares the right to convert into Class A ordinary shares on a one-for-one basis prior to closing a business combination."},"claim":"Borealis Foods Inc.: Provided holders of Class B ordinary shares the right to convert into Class A ordinary shares on a one-for-one basis prior to closing a business combination (effective 2023-03-02).","evidence_excerpt":"(2) provide for the right of a holder of Class B ordinary shares of the Company to convert into Class A ordinary shares on a one-for-one basis prior to the closing of a business combination at the election of such holder.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-23-017125","anchor_url":"https://secwatch.observer/filing/0001213900-23-017125#claim-cfe0fc0af4c68dded98b2147dcd39bfb2c6d0e3f","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390023017125/0001213900-23-017125-index.htm"},{"fact_type":"governance_change","fact_key":"c9f11f0884758d9c46b3b7c387efd17b0904f721","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2023-03-03T23:59:59+00:00","payload":{"change_type":"charter_amendment","effective_date":"2023-03-02","item_codes_triggered":["5.03"],"summary_text":"Extended the deadline for the company to consummate an initial business combination from March 8, 2023 to December 8, 2023."},"claim":"Borealis Foods Inc.: Extended the deadline for the company to consummate an initial business combination from March 8, 2023 to December 8, 2023 (effective 2023-03-02).","evidence_excerpt":"(1) extend the date by which the Company must consummate its initial business combination from March 8, 2023 to December 8, 2023","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-23-017125","anchor_url":"https://secwatch.observer/filing/0001213900-23-017125#claim-c9f11f0884758d9c46b3b7c387efd17b0904f721","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390023017125/0001213900-23-017125-index.htm"},{"fact_type":"shareholder_vote","fact_key":"9a77fd6c046c4038cbdacace0577791e972ea664","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2023-03-03T23:59:59+00:00","payload":{"item_codes_triggered":["5.07"],"meeting_date":"2023-03-02","outcome":"passed","proposal_text":"Founder Share Amendment Proposal to amend the Charter to provide for the right of a holder of the Class B ordinary shares to convert into the Class A ordinary shares on a one-for-one basis prior to the closing of a business combination at the election of such 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0","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-23-017125","anchor_url":"https://secwatch.observer/filing/0001213900-23-017125#claim-9a77fd6c046c4038cbdacace0577791e972ea664","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390023017125/0001213900-23-017125-index.htm"},{"fact_type":"shareholder_vote","fact_key":"c6bc5d7510c4506aa312aff1fb5c6c88c08f7c31","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2023-03-03T23:59:59+00:00","payload":{"item_codes_triggered":["5.07"],"meeting_date":"2023-03-02","outcome":"passed","proposal_text":"Extension Proposal to amend the Charter to extend the date that the Company has to consummate a business combination from March 8, 2023 to the Extended Date","proposal_type":"charter_amendment","results":[{"broker_non_votes":null,"subject":null,"votes_abstain":"0","votes_against":"2,585,464","votes_for":"14,189,931","votes_withheld":null}]},"claim":"Borealis Foods Inc. shareholders approved Extension Proposal to amend the Charter to extend the date that the Company has to consummate a business combination from March 8, 2023 to the Extended Date at the 2023-03-02 meeting.","evidence_excerpt":"The Extension Proposal was approved. The voting results of the ordinary shares were as follows: For Against Abstain 14,189,931 2,585,464 0","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-23-017125","anchor_url":"https://secwatch.observer/filing/0001213900-23-017125#claim-c6bc5d7510c4506aa312aff1fb5c6c88c08f7c31","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390023017125/0001213900-23-017125-index.htm"},{"fact_type":"debt_financing","fact_key":"1c09c92b717291e0305dc11c2a08d495e62df78b","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2023-03-01T23:59:59+00:00","payload":{"counterparty":"Sponsor","effective_date":"2023-02-28","event":"amendment","instrument_type":"loan","interest_rate_text":"non-interest bearing","item_codes_triggered":["2.03"],"maturity_text":"due on the date on which Oxus consummates its initial business combination","principal_text":"$3,500,000"},"claim":"Borealis Foods Inc. amended loan of $3,500,000 with Sponsor at non-interest bearing maturing due on the date on which Oxus consummates its initial business combination.","evidence_excerpt":"On February 28, 2023, Oxus entered into an Amended and Restated Promissory Note (the “ Amended Note ”) with the Sponsor pursuant to which Oxus may borrow up to an aggregate principal amount of $3,500,000. The Amended Note amended, replaced and superseded in its entirety that certain promissory note, dated September 8, 2022, made by Oxus in favor of the Sponsor in the principal amount of up to $1,500,000 (the “ Original Note ”), and any unpaid principal balance of the indebtedness evidenced by the Original Note has been merged into and evidenced by the Amended Note. The Amended Note is non-interest bearing and due on the date on which Oxus consummates its initial business combination.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001213900-23-016189","anchor_url":"https://secwatch.observer/filing/0001213900-23-016189#claim-1c09c92b717291e0305dc11c2a08d495e62df78b","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390023016189/0001213900-23-016189-index.htm"},{"fact_type":"material_agreement","fact_key":"7713a48197d12c72d1687762ad628a762e9ebc4d","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2023-03-01T23:59:59+00:00","payload":{"action":"entry","agreement_name":"Business Combination Agreement","agreement_type":"merger","counterparty":"Oxus Acquisition Corp. and 1000397116 Ontario Inc.","effective_date":"2023-02-23","item_codes_triggered":["1.01"],"value_text":null},"claim":"Borealis Foods Inc. entered into Business Combination Agreement with Oxus Acquisition Corp. and 1000397116 Ontario Inc. (effective 2023-02-23).","evidence_excerpt":"On February 23, 2023, Oxus Acquisition Corp., an exempted company limited by shares incorporated under the laws of the Cayman Islands (“ Oxus ”), entered into a Business Combination Agreement with 1000397116 Ontario Inc., a corporation incorporated under the laws of the Province of Ontario, Canada and a wholly-owned subsidiary of Oxus (“ Newco ”), and Borealis Foods Inc., a corporation incorporated under the laws of Canada (“ Borealis ”, or the “ Company ”) (as may be amended and restated from time to time, the “ Business Combination Agreement ”).","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001213900-23-016189","anchor_url":"https://secwatch.observer/filing/0001213900-23-016189#claim-7713a48197d12c72d1687762ad628a762e9ebc4d","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390023016189/0001213900-23-016189-index.htm"},{"fact_type":"executive_change","fact_key":"cc7a710a3c","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2022-06-06T23:59:59+00:00","payload":{"action":"appointed","action_category":"appointment","departure_tone":"not_applicable","effective_date":"2022-06-01","interim":false,"role":"Director","role_category":"director","successor_name":null,"successor_named":false},"claim":"Karim Zahmoul was appointed as Director at Borealis Foods Inc..","evidence_excerpt":"on June 1, 2022, the Board of Directors appointed Karim Zahmoul to fill the vacancy created by Mr. Ivaskhovsky’s resignation, effective immediately.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001213900-22-031354","anchor_url":"https://secwatch.observer/filing/0001213900-22-031354#claim-cc7a710a3c","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390022031354/0001213900-22-031354-index.htm"},{"fact_type":"executive_change","fact_key":"7f17369fe3","cik":1852973,"ticker":"BRLS","company_name":"Borealis Foods Inc.","filed_at":"2022-06-06T23:59:59+00:00","payload":{"action":"resigned","action_category":"departure","departure_tone":"routine","effective_date":"2022-05-31","interim":false,"role":"Director","role_category":"director","successor_name":"Karim Zahmoul","successor_named":true},"claim":"Sergei Ivashkovsky resigned as Director at Borealis Foods Inc..","evidence_excerpt":"On May 31, 2022, Sergei Ivashkovsky tendered his resignation as a director of the board of directors of Oxus Acquisition Corp. 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