zSpace, Inc. (ZSPC): debt financing — zSpace raises $13M via senior secured convertible note; repays Itria debt, amends Fiza loans

zSpace, Inc.

Original principal amount $13.98M; gross proceeds $13M; note matures April 2027 at 6% interest.
Conversion price initially $12.39 per share (125% of closing); floor $1.98; monthly installment $665,642.62 after 90 days.
Proceeds used to repay ~$10.18M in Itria loans (six tranches) and for working capital.
Fiza loan maturity extended to Dec 2027; interest on one tranche reduced from 25% to 20%.
Investor receives first-priority security interest in all assets including IP; Fiza interest subordinated.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

zSpace, Inc. incurred convertible notes of $13,978,495 with an institutional investor at 6.0% per annum maturing April 11, 2027.

Instrument: convertible notes
Principal: $13,978,495
Counterparty: an institutional investor
Rate: 6.0% per annum
Maturity: April 11, 2027
Event: incurrence

Exact text from the filing

On April 10, 2025, zSpace, Inc., a Delaware corporation (the “Company”), entered into a securities purchase agreement (the “Securities Purchase Agreement”) with an institutional investor (the “Investor”), pursuant to which the Company sold, and the Investor purchased, a senior secured convertible note issued by the Company (the “Note,” and such financing, the “Convertible Note Financing”) in the original principal amount of $13,978,495 (the “Principal Amount”), which is convertible into shares of the Company’s common stock, par value $0.0001 per share (“Common Stock”).

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101 debt financings filed in the last 30 days. Browse all debt financings →

zSpace, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-034265

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