---
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"
generated_at: "2026-05-23T16:12:00.497516+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# zSpace raises $13M via senior secured convertible note; repays Itria debt, amends Fiza loans

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-034265
- JSON: https://secwatch.observer/filing/0001104659-25-034265.json
- Plain text: https://secwatch.observer/filing/0001104659-25-034265.txt

## Key facts
- Debt Financings
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1637147/000110465925034265/0001104659-25-034265-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.