---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-078601"
form_type: "8-K"
ticker: "BRLS"
cik: "0001852973"
company_name: "Borealis Foods Inc."
filed_at: "2025-08-19T23:59:59+00:00"
generated_at: "2026-05-17T11:33:08.071245+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Borealis Foods borrows $980k from Chairman at 10%; CEO salary deferred from Feb 2025

## Summary
- Issued promissory notes to Chairman for $980k aggregate principal, 10% interest, due on demand.
- Chairman had advanced $980k in funds from June 5 to Aug 14, 2025, now formalized.
- CEO salary accrued but not paid from Feb 1, 2025; $125k accrued payroll expense recorded in Q2.
- Notes may be prepaid without penalty; default rate increases to 15%.

## SEC filing metadata
- accession: 0001213900-25-078601
- form_type: 8-K
- ticker: BRLS
- cik: 0001852973
- company_name: Borealis Foods Inc.
- filed_at: 2025-08-19T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1852973/000121390025078601/0001213900-25-078601-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1852973/000121390025078601/ea0253749-8k_borealis.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-078601
- JSON: https://secwatch.observer/filing/0001213900-25-078601.json
- Plain text: https://secwatch.observer/filing/0001213900-25-078601.txt

## Key facts
- Debt Financings
  Borealis Foods Inc. incurred loan of $980,000 with Chairman of the Company’s Board of Directors at 10% per annum maturing due on demand.
  - Instrument: loan
  - Principal: $980,000
  - Counterparty: Chairman of the Company’s Board of Directors
  - Rate: 10% per annum
  - Maturity: due on demand
  - Event: incurrence
  source text: issued promissory notes to the Company’s Chairman of the Company’s Board of Directors (the “Chairman”) in the aggregate principal amount of $980,000 (the “Promissory Notes”). The Promissory Notes bears interest at a rate of 10% per annum and are due on demand.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1852973/000121390025078601/0001213900-25-078601-index.htm

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