{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-26-048551","form_type":"8-K","ticker":"BRLS","cik":"0001852973","company_name":"Borealis Foods Inc.","filed_at":"2026-04-28T23:59:59+00:00","discovered_at":"2026-05-14T18:02:33.136417+00:00","generated_at":"2026-05-15T03:10:56.928085+00:00","sec_items":["7.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.85,"confidence":"high","headline":"Borealis Foods enters $17M Oxus term loan to repay Frontwell; conversion deal could dilute shares","bullets":["$17M term loan from Oxus Capital at 12% interest, maturing April 2031; no cash interest first 12 months.","Proceeds fully repay Frontwell credit facility; forbearance and CRO engagement terminated.","Conversion agreement: $29M debt from Oxus, CEO, Chairman converts to equity if $70M equity not raised at $9/share by July 1, 2026.","Oxus gets two board seats by May 11, 2026, replacing two current directors.","Loan secured by substantially all assets, including Saluda, SC manufacturing facilities."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-048551","json":"https://secwatch.observer/filing/0001213900-26-048551.json","markdown":"https://secwatch.observer/filing/0001213900-26-048551.md","text":"https://secwatch.observer/filing/0001213900-26-048551.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026048551/0001213900-26-048551-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026048551/ea028808401-8k_borealis.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T03:10:56.928085+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}