---
schema_version: "secwatch.filing_event.v1"
accession: "0001551986-23-000028"
form_type: "8-K"
ticker: null
cik: "0001551986"
company_name: "9 METERS BIOPHARMA, INC."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T08:54:49.339669+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# 9 Meters Biopharma enters forbearance on convertible note; pays $3.1M partial acceleration after Nasdaq default

## Summary
- Partial acceleration of $3.1M paid to High Trail; outstanding principal reduced to ~$2.29M.
- Forbearance period ends May 16, 2023, or earlier if Nasdaq delisting or other default occurs.
- Restricted reserve account increased to $1.6M; default interest rate of 18% applied.
- Company must deliver Nasdaq compliance plan by May 15, 2023.
- Noteholder retains all remedies after forbearance terminates.

## SEC filing metadata
- accession: 0001551986-23-000028
- form_type: 8-K
- cik: 0001551986
- company_name: 9 METERS BIOPHARMA, INC.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.04, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1551986/000155198623000028/0001551986-23-000028-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1551986/000155198623000028/nmtr-20230426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001551986-23-000028
- JSON: https://secwatch.observer/filing/0001551986-23-000028.json
- Plain text: https://secwatch.observer/filing/0001551986-23-000028.txt

## Key facts
- Debt Financings
  9 METERS BIOPHARMA, INC. faced acceleration on convertible notes of $3.1 million at 18.0%.
  - Instrument: convertible notes
  - Principal: $3.1 million
  - Rate: 18.0%
  - Event: acceleration
  source text: On April 26, 2023, the Company entered into a forbearance agreement (the “Forbearance Agreement”) with the Holder, pursuant to which the Holder agreed to forbear from enforcing its full remedies related to the Existing Default until the earliest of (i) May 16, 2023, (ii) the occurrence of a default (other than the Existing Default) under the Note or related Note transaction documents, (iii) the Company receives notice from Nasdaq that its compliance plan is not accepted, or the Company’s common stock is delisted or halted from trading for more than one trading day, or (iv) the occurrence of a breach by the Company or its subsidiary of any of the representations, warranties, agreements or covenants. In exchange for the Holder agreeing to enter the Forbearance Agreement, the Company agreed to pay to the Holder a partial acceleration amount of approximately $3.1 million in cash, the restricted amount maintained in a reserve account under the terms of the Note was increased to $1.6 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1551986/000155198623000028/0001551986-23-000028-index.htm

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