secwatch.observer — SEC 8-K summary
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Issuer:     zSpace, Inc. (ZSPC)
CIK:        0001637147
Form:       8-K
Filed at:   2025-04-11T23:59:59+00:00
Accession:  0001104659-25-034265
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1637147/000110465925034265/0001104659-25-034265-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1637147/000110465925034265/tm2512150d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-034265

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