secwatch.observer — SEC 8-K summary
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Issuer:     Kiromic Biopharma, Inc. (—)
CIK:        0001792581
Form:       8-K
Filed at:   2025-02-03T23:59:59+00:00
Accession:  0001437749-25-002474
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kiromic BioPharma issues $1M 25% secured convertible note to existing holder
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- Note principal $1,000,000, 25% interest p.a., matures Jan 28, 2026.
- Convertible at 90% of 5-day VWAP starting Feb 28, 2025, subject to 19.99% beneficial ownership limit.
- Secured by all company fixtures, equipment, and intellectual property.
- Same holder now holds $13.2M aggregate principal across 8 notes plus preferred stock.
- Issued under Section 4(a)(2) exemption; prepayable without penalty on 10 days' notice.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1792581/000143774925002474/0001437749-25-002474-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1792581/000143774925002474/krbp20250202_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-002474

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer