{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-034265","form_type":"8-K","ticker":"ZSPC","cik":"0001637147","company_name":"zSpace, Inc.","filed_at":"2025-04-11T23:59:59+00:00","discovered_at":"2026-05-14T18:02:49.154293+00:00","generated_at":"2026-05-23T16:12:00.497516+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"zSpace raises $13M via senior secured convertible note; repays Itria debt, amends Fiza loans","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-034265","json":"https://secwatch.observer/filing/0001104659-25-034265.json","markdown":"https://secwatch.observer/filing/0001104659-25-034265.md","text":"https://secwatch.observer/filing/0001104659-25-034265.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1637147/000110465925034265/0001104659-25-034265-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1637147/000110465925034265/tm2512150d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-23T16:12:00.497516+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"187adec8b4da2d4e870c2e5729db47b0b75cd43c","claim":"zSpace, Inc. incurred convertible notes of $13,978,495 with an institutional investor at 6.0% per annum maturing April 11, 2027.","evidence_excerpt":"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”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1637147/000110465925034265/0001104659-25-034265-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$13,978,495"},{"label":"Counterparty","value":"an institutional investor"},{"label":"Rate","value":"6.0% per annum"},{"label":"Maturity","value":"April 11, 2027"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}