---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-24-000056"
form_type: "8-K"
ticker: "XBIT"
cik: "0001626878"
company_name: "XBiotech Inc."
filed_at: "2024-01-04T23:59:59+00:00"
generated_at: "2026-06-07T04:00:42.279730+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# XBiotech enters $10M convertible loan from CEO to fund new R&D facility

## Summary
- $10M loan from CEO John Simard at 8% simple interest, secured by real estate and cash.
- Loan convertible to common stock at $4.048/share at CEO's election, subject to ownership cap.
- Interest-only payments semi-annually; CEO can demand cash repayment after one year.
- Funds will construct a 46,000+ sq ft R&D facility on 48-acre Austin campus; construction starts Q1 2024.
- New facility supports Natrunix rheumatology program and infectious disease research.

## SEC filing metadata
- accession: 0001171843-24-000056
- form_type: 8-K
- ticker: XBIT
- cik: 0001626878
- company_name: XBiotech Inc.
- filed_at: 2024-01-04T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1626878/000117184324000056/0001171843-24-000056-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1626878/000117184324000056/f8k_010424.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-24-000056
- JSON: https://secwatch.observer/filing/0001171843-24-000056.json
- Plain text: https://secwatch.observer/filing/0001171843-24-000056.txt

## Key facts
- Debt Financings
  XBiotech Inc. incurred loan of $10 million with John Simard at eight percent per year.
  - Instrument: loan
  - Principal: $10 million
  - Counterparty: John Simard
  - Rate: eight percent per year
  - Event: incurrence
  source text: On January 3, 2024, XBiotech Inc. (“XBiotech” or the “Company”) entered into a Convertible Loan Agreement (the “Loan”) with John Simard, the Company’s Founder, President, Chief Executive Officer and Chairman. The Loan provides $10 million in immediate funding for the construction of a new, state-of-the-art research and development facility at 5217 Winnebago Lane in Austin, Texas. The Loan is secured by the real estate and cash holdings of the Company, with interest to accrue at a simple rate equal to eight percent per year and interest-only payments to be made at six-month intervals after the Loan is funded.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1626878/000117184324000056/0001171843-24-000056-index.htm
- Material Agreements
  XBiotech Inc. entered into Convertible Loan Agreement with John Simard valued at $10 million (effective 2024-01-03).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: John Simard
  - Value: $10 million
  - Effective: 2024-01-03
  source text: On January 3, 2024, XBiotech Inc. (“XBiotech” or the “Company”) entered into a Convertible Loan Agreement (the “Loan”) with John Simard, the Company’s Founder, President, Chief Executive Officer and Chairman.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1626878/000117184324000056/0001171843-24-000056-index.htm

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