secwatch.observer — SEC 8-K summary
======================================

Issuer:     Kiromic Biopharma, Inc. (—)
CIK:        0001792581
Form:       8-K
Filed at:   2023-04-28T23:59:59+00:00
Accession:  0001558370-23-007315
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1792581/000155837023007315/0001558370-23-007315-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1792581/000155837023007315/krbp-20230425x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-007315

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