---
schema_version: "secwatch.filing_event.v1"
accession: "0001553350-25-000061"
form_type: "8-K"
ticker: "ZPTA"
cik: "0001843714"
company_name: "Zapata Quantum, Inc."
filed_at: "2025-06-18T23:59:59+00:00"
generated_at: "2026-05-19T03:24:44.099131+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Zapata raises $2.65M via secured notes; converts $10.1M payables to equity

## Summary
- Secured convertible notes raise $2.65M (up to $3M), bearing 10% interest, maturing in 1 year, convertible at $0.04/share into 66.25M shares.
- Warrants to purchase 33.125M shares at $0.04/exercise price, 5-year term; cashless exercise allowed if registration ineffective.
- Used $1.343M of proceeds to repay D-Wave Quantum Inc. note with 15% interest and original $1M principal.
- Converted $10.1M of accounts payable into 27.33M shares, part of restructuring targeting up to $17M liabilities for up to 46M shares.
- Issued 34M shares to existing lender in exchange for waiver of defaults on its $1M note; intercreditor agreement governs priority.

## SEC filing metadata
- accession: 0001553350-25-000061
- form_type: 8-K
- ticker: ZPTA
- cik: 0001843714
- company_name: Zapata Quantum, Inc.
- filed_at: 2025-06-18T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1843714/000155335025000061/0001553350-25-000061-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1843714/000155335025000061/zapata_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001553350-25-000061
- JSON: https://secwatch.observer/filing/0001553350-25-000061.json
- Plain text: https://secwatch.observer/filing/0001553350-25-000061.txt

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