---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-290474"
form_type: "8-K"
ticker: "BCAB"
cik: "0001826892"
company_name: "BioAtla, Inc."
filed_at: "2025-11-21T23:59:59+00:00"
generated_at: "2026-05-16T17:41:48.167883+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# BioAtla raises $7.5M via PPAs and $15M SEPA; Yorkville gets 243,428 commitment shares

## Summary
- PPAs for $7.5M face amount; net proceeds ~$7.13M at 95% of face; due in 12 months.
- PPA conversion price is lower of 115% of prior VWAP or 95% of lowest 7-day VWAP, with floor at 20% of closing price.
- SEPA allows BioAtla to sell up to $15M common stock to Yorkville over 36 months at 97% of lowest 3-day VWAP.
- Yorkville received 243,428 commitment shares worth $300,000 as SEPA fee.
- Company restricts other variable-rate transactions until PPA repaid; 19.99% Exchange Cap may limit total shares.

## SEC filing metadata
- accession: 0001193125-25-290474
- form_type: 8-K
- ticker: BCAB
- cik: 0001826892
- company_name: BioAtla, Inc.
- filed_at: 2025-11-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1826892/000119312525290474/0001193125-25-290474-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1826892/000119312525290474/bcab-20251120.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-290474
- JSON: https://secwatch.observer/filing/0001193125-25-290474.json
- Plain text: https://secwatch.observer/filing/0001193125-25-290474.txt

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