secwatch.observer — SEC 8-K summary
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Issuer:     Kiromic Biopharma, Inc. (—)
CIK:        0001792581
Form:       8-K/A
Filed at:   2025-02-03T23:59:59+00:00
Accession:  0001437749-25-002590
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kiromic BioPharma issues $1M 25% senior secured convertible note; corrects prior debt total to $14.2M
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- Issued $1M 25% senior secured convertible promissory note to accredited investor, maturing Jan 28, 2026.
- Note convertible into common stock at 90% of 5-day VWAP starting Feb 28, 2025; beneficial ownership cap of 19.99%.
- Note secured by all fixtures, equipment, and intellectual property of the Company.
- Holder now holds aggregate principal of $14.2M across eight promissory notes plus preferred stock.
- 8-K/A corrects error: originally reported combined debt as $13.2M instead of $14.2M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1792581/000143774925002590/0001437749-25-002590-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1792581/000143774925002590/krbp20250203_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-002590

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