Borealis Foods receives lender default notice; cash dominion imposed, borrowing restricted

Borealis Foods Inc.

Lender Frontwell asserts multiple Events of Default, including Excess Availability of ~$501K vs required $4.375M and missing financial reports since August 2024.
Lender imposed cash dominion over borrower deposit accounts; no obligation to honor further Revolving Loans.
Borrower reduced Revolving Loan balance from $10.2M to $3.55M as of Nov 19, 2025, and provided requested financial reports.
Company evaluating implications, in discussions with advisors; lender has not yet accelerated obligations.

item 2.04 item 8.01 item 9.01

Machine-readable event card

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accession: 0001213900-25-112705
form_type: 8-K
ticker: BRLS
cik: 0001852973
company_name: Borealis Foods Inc.
filed_at: 2025-11-19T23:59:59+00:00
discovered_at: 2026-05-14T18:02:40.817171+00:00
generated_at: 2026-05-16T18:32:31.194189+00:00
sec_items: ["2.04", "8.01", "9.01"]
event_type: debt
sentiment: negative
materiality_score: 0.8
confidence: high
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Source: SEC EDGAR

accession 0001213900-25-112705

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