8-K
filed June 12, 2026, 4:56 PM ET
ticker BRTX
CIK 0001505497
leadership
confidence high
sentiment neutral
materiality 0.75
BioRestorative Therapies enters $1M revolving loan at 12% with Bowery Group; board overhaul with 3 new directors
BioRestorative Therapies, Inc.
- Entered $1,000,000 revolving loan agreement with Bowery Group LLC at 12% interest, 16% default rate, 1-year maturity.
- Three directors (Francisco Silva, Nickolay Kukekov, Patrick F. Williams) resigned effective June 11, 2026.
- Lender designees Mika Grasso, Katharyn Field, Jatinder Dhaliwal appointed to board as Class II, I, III directors respectively.
- Loan proceeds for general corporate purposes; lender controls board composition via appointment rights.
- Mr. Grasso chairs Audit Committee; Ms. Field chairs Nominating; Mr. Dhaliwal on all three committees.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jatinder Dhaliwal was appointed as Director at BioRestorative Therapies, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the remaining members of the Company’s Board of Directors (the “Board”) appointed Mika Grasso, Katharyn Field and Jatinder Dhaliwal (collectively, the “New Directors”), designees of the Lender, as directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Nickolay Kukekov resigned as Director at BioRestorative Therapies, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Effective June 11, 2026, pursuant to the Revolving Loan Agreement, Francisco Silva, Nickolay Kukekov and Patrick F. Williams resigned as directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Francisco Silva resigned as Director at BioRestorative Therapies, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Effective June 11, 2026, pursuant to the Revolving Loan Agreement, Francisco Silva, Nickolay Kukekov and Patrick F. Williams resigned as directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Patrick F. Williams resigned as Director at BioRestorative Therapies, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Effective June 11, 2026, pursuant to the Revolving Loan Agreement, Francisco Silva, Nickolay Kukekov and Patrick F. Williams resigned as directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Mika Grasso was appointed as Director at BioRestorative Therapies, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the remaining members of the Company’s Board of Directors (the “Board”) appointed Mika Grasso, Katharyn Field and Jatinder Dhaliwal (collectively, the “New Directors”), designees of the Lender, as directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Katharyn Field was appointed as Director at BioRestorative Therapies, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the remaining members of the Company’s Board of Directors (the “Board”) appointed Mika Grasso, Katharyn Field and Jatinder Dhaliwal (collectively, the “New Directors”), designees of the Lender, as directors of the Company.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.99
BioRestorative Therapies, Inc. entered into Revolving Loan Agreement with Bowery Group LLC valued at Loans up to $1,000,000 aggregate principal; interest rate 12% per annum; default rate 16% per annum; (effective 2026-06-10).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Bowery Group LLC
- Value
- Loans up to $1,000,000 aggregate principal; interest rate 12% per annum; default rate 16% per annum;
- Effective
- 2026-06-10
Exact text from the filing
On June 10, 2026, BioRestorative Therapies, Inc. (the “Company”) entered into a Revolving Loan Agreement (the “Revolving Loan Agreement”) with Bowery Group LLC (the “Lender”).
View on SEC.gov
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