---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-007315"
form_type: "8-K"
ticker: null
cik: "0001792581"
company_name: "Kiromic Biopharma, Inc."
filed_at: "2023-04-28T23:59:59+00:00"
generated_at: "2026-06-16T06:39:27.835372+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Kiromic BioPharma issues $2M 25% senior secured convertible note due April 2024

## Summary
- Principal $2M; interest 25% per annum (27% on default); matures April 25, 2024.
- Convertible at $6.50 per share, subject to 9.99% beneficial ownership limitation and share cap (0.1999 × 979,243 shares).
- Note secured by all fixtures, equipment, and intellectual property of the company.
- Issued to an accredited investor under Section 4(a)(2) exemption from registration.
- Company may incur additional debt that is senior, pari passu, or junior to this note.

## SEC filing metadata
- accession: 0001558370-23-007315
- form_type: 8-K
- cik: 0001792581
- company_name: Kiromic Biopharma, Inc.
- filed_at: 2023-04-28T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1792581/000155837023007315/0001558370-23-007315-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1792581/000155837023007315/krbp-20230425x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-007315
- JSON: https://secwatch.observer/filing/0001558370-23-007315.json
- Plain text: https://secwatch.observer/filing/0001558370-23-007315.txt

## Key facts
- Debt Financings
  Kiromic Biopharma, Inc. incurred convertible notes of $2,000,000 with an accredited investor at 25% per annum maturing April 25, 2024.
  - Instrument: convertible notes
  - Principal: $2,000,000
  - Counterparty: an accredited investor
  - Rate: 25% per annum
  - Maturity: April 25, 2024
  - Event: incurrence
  source text: On April 25, 2023, Kiromic BioPharma, Inc. (the “Company”) issued a 25% Senior Secured Convertible Promissory Note (the “Note”) to an accredited investor. The Note has a principal amount of $2,000,000, bears interest at a rate of 25% per annum (the “Stated Rate”) and matures on April 25, 2024 (the “Maturity Date”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1792581/000155837023007315/0001558370-23-007315-index.htm
- Material Agreements
  Kiromic Biopharma, Inc. entered into 25% Senior Secured Convertible Promissory Note with accredited investor valued at $2,000,000 (effective 2023-04-25).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: accredited investor
  - Value: $2,000,000
  - Effective: 2023-04-25
  source text: On April 25, 2023, Kiromic BioPharma, Inc. (the “Company”) issued a 25% Senior Secured Convertible Promissory Note (the “Note”) to an accredited investor. The Note has a principal amount of $2,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1792581/000155837023007315/0001558370-23-007315-index.htm

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