secwatch.observer — SEC 8-K summary
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Issuer:     zSpace, Inc. (ZSPC)
CIK:        0001637147
Form:       8-K
Filed at:   2026-06-01T12:00:56+00:00
Accession:  0001104659-26-068595
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 1.02, 2.03, 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

zSpace restructures $12M debt via equity conversion; creates Series P-2 preferred
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- Converted $2M of 3i debt into common at $0.2385/share; remaining note amended with 9-month moratorium then 9 monthly installments.
- Fiza converted $10M debt ($7.2M principal + $2.8M interest) into common at $0.2385/share and 2.8M Series P-2 preferred at $1.00/share.
- Series P-2 preferred: 18% cumulative annual dividend, convertible after 3 years at $1.00/share, votes as-converted with common.
- Series P convertible preferred authorized shares cut from 5M to 2M; conversion price reduced to $1.00/share.
- All obligations under First Note and Fiza notes fully discharged; transactions closed May 28, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1637147/000110465926068595/0001104659-26-068595-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1637147/000110465926068595/tm2616116d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-068595

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