---
schema_version: "secwatch.filing_event.v1"
accession: "0001239819-24-000090"
form_type: "8-K"
ticker: null
cik: "0001239819"
company_name: "LUNA INNOVATIONS INC"
filed_at: "2024-07-23T23:59:59+00:00"
generated_at: "2026-05-31T17:49:20.513610+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Luna Innovations secures $15M White Hat loan with $9M drawn; appoints Kevin Ilcisin CEO

## Summary
- Up to $15M delayed-draw term loan with White Hat Capital; $9M drawn at July 19 closing.
- Loan matures Dec 31, 2024 (extendable to Apr 30, 2025 on sale milestones); interest at SOFR+10% (12% during extension).
- Obligations secured by second-priority lien on substantially all assets; mandatory prepayment from sale proceeds.
- Kevin Ilcisin named President & CEO effective Aug 1, 2024; also appointed to Board as Class I director.
- Ilcisin base salary $133,330/month ($100K cash + $33K deferred), target bonus $396K, and 628,141 RSUs granted.

## SEC filing metadata
- accession: 0001239819-24-000090
- form_type: 8-K
- cik: 0001239819
- company_name: LUNA INNOVATIONS INC
- filed_at: 2024-07-23T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1239819/000123981924000090/0001239819-24-000090-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1239819/000123981924000090/luna-20240723.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001239819-24-000090
- JSON: https://secwatch.observer/filing/0001239819-24-000090.json
- Plain text: https://secwatch.observer/filing/0001239819-24-000090.txt

## Key facts
- Executive change
  Kevin Ilcisin was appointed as President and Chief Executive Officer at LUNA INNOVATIONS INC.
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: On July 23, 2024 the Company announced the appointment of Kevin Ilcisin as the Company’s President and Chief Executive Officer, effective as of August 1, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1239819/000123981924000090/0001239819-24-000090-index.htm
- Executive change
  Kevin Ilcisin was appointed as Class I director at LUNA INNOVATIONS INC.
  - Action: appointed
  - Role: Class I director
  source text: the Company’s Board of Directors (the “ Board ”) has approved the appointment of Mr. Ilcisin to the Board, effective on August 1, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1239819/000123981924000090/0001239819-24-000090-index.htm

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