secwatch.observer — SEC 8-K summary
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Issuer:     Borealis Foods Inc. (BRLS)
CIK:        0001852973
Form:       8-K
Filed at:   2024-02-13T23:59:59+00:00
Accession:  0001213900-24-013332
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 5.02, 3.02, 9.01, 4.01, 2.02, 3.03, 5.01, 5.03, 5.06, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Borealis Foods closes SPAC merger with Oxus Acquisition Corp., valued at $133M
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- Aggregate transaction consideration of $133M after deducting $17M net indebtedness; 13.3M new shares issued.
- Investor notes totaling $30M (Belphar $20M, Saule $5M, Aman $2M, GSS $3M) converted into 4,163,510 common shares.
- Sponsor note amended to $6M principal, maturity extended to February 7, 2025.
- Board: 11 directors; CEO Reza Soltanzadeh, Chairman Barthelemy Helg, Belphar nominee Shukhrat Ibragimov.
- Lock-up: 50% of restricted securities locked for 12 months or until stock price >= $12 for 20 trading days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1852973/000121390024013332/0001213900-24-013332-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1852973/000121390024013332/ea193378-8k_borealis.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-013332

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer