{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-24-007270","form_type":"8-K","ticker":"DYAI","cik":"0001213809","company_name":"DYADIC INTERNATIONAL INC","filed_at":"2024-03-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:23.596809+00:00","generated_at":"2026-06-04T23:41:24.314465+00:00","sec_items":["1.01","2.03","3.02","8.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Dyadic closes $6M convertible note financing with insider participation to fund commercialization","bullets":["$6M aggregate principal, 8% senior secured convertible notes, due March 2027, conversion at $1.79/share.","Purchasers include CEO Mark Emalfarb's family members and The Francisco Trust (>5% holder).","Net proceeds of ~$5.85M after expenses; intended for working capital and corporate purposes.","Funds to accelerate C1 and Dapibus platform commercialization after positive Phase I clinical results.","Registration rights agreement filed for shares underlying the convertible notes."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-24-007270","json":"https://secwatch.observer/filing/0001437749-24-007270.json","markdown":"https://secwatch.observer/filing/0001437749-24-007270.md","text":"https://secwatch.observer/filing/0001437749-24-007270.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1213809/000143774924007270/0001437749-24-007270-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1213809/000143774924007270/dyai20240308_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T23:41:24.314465+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":[{"claim_id":"e8548d93e8f370eb69ac961c516b3d62af1b01c7","claim":"DYADIC INTERNATIONAL INC incurred convertible notes of $6,000,000 with immediate family members and family trusts related to Mark Emalfarb, including The Francisco Trust U/A/D February 28, 1996 at 8% per annum maturing March 8, 2027.","evidence_excerpt":"On March 8, 2024, Dyadic International, Inc. (the “Company”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) pursuant to which the Company issued 8.0% Senior Secured Convertible Promissory Notes due March 8, 2027 in an aggregate principal amount of $6.0 million (the “Convertible Notes”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1213809/000143774924007270/0001437749-24-007270-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$6,000,000"},{"label":"Counterparty","value":"immediate family members and family trusts related to Mark Emalfarb, including The Francisco Trust U/A/D February 28, 1996"},{"label":"Rate","value":"8% per annum"},{"label":"Maturity","value":"March 8, 2027"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"fe84588ad7b71d132623039f5cdc7723e58f50bf","claim":"DYADIC INTERNATIONAL INC entered into Securities Purchase Agreement with The Francisco Trust U/A/D February 28, 1996 and immediate family members and family trusts related to Mark Emalfarb valued at $6.0 million (effective 2024-03-08).","evidence_excerpt":"On March 8, 2024, Dyadic International, Inc. (the “Company”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) pursuant to which the Company issued 8.0% Senior Secured Convertible Promissory Notes due March 8, 2027 in an aggregate principal amount of $6.0 million (the “Convertible Notes”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1213809/000143774924007270/0001437749-24-007270-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"The Francisco Trust U/A/D February 28, 1996 and immediate family members and family trusts related to Mark Emalfarb"},{"label":"Value","value":"$6.0 million"},{"label":"Effective","value":"2024-03-08"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}