Borealis Foods receives default notice from lender; faces additional reserves if $5M equity not raised in 14 days

Borealis Foods Inc.

Lender Frontwell Capital Partners notified Borealis of continuing Events of Default under $15M term loan and $10M revolver credit agreement.
Defaults include failure to maintain Excess Availability of $4.375M and non-delivery of October and November 2025 financial statements.
Lender will impose $200K reserve if $5M equity or refinancing commitment not provided within 14 days, then $100K weekly increases.
Credit agreement not accelerated; company is discussing amendments, capital-raising, and liquidity alternatives with no assurances.

item 2.04 item 8.01 item 9.01

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ticker: BRLS
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company_name: Borealis Foods Inc.
filed_at: 2026-02-06T23:59:59+00:00
discovered_at: 2026-05-14T18:02:36.542545+00:00
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accession 0001213900-26-013285

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