Borealis Foods receives default notice from lender; default interest rate triggered

Borealis Foods Inc.

Frontwell Capital Partners notified Borealis of Events of Default under $15M term loan and $10M revolver.
Defaults include failure to maintain $4.375M excess availability and late financial reports.
Lender elected to charge interest at Default Rate (2% + applicable rate) effective Nov 12, 2025.
Credit Agreement remains in effect; lender may decline further revolving loan advances.
Company is negotiating with lender and evaluating capital-raising and liquidity alternatives.

item 2.04 item 8.01 item 9.01

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form_type: 8-K
ticker: BRLS
cik: 0001852973
company_name: Borealis Foods Inc.
filed_at: 2025-12-16T23:59:59+00:00
discovered_at: 2026-05-14T18:02:40.817379+00:00
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accession 0001213900-25-122266

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