---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-012422"
form_type: "8-K"
ticker: null
cik: "0001792581"
company_name: "Kiromic Biopharma, Inc."
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-13T00:45:34.061952+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Kiromic BioPharma issues $2.4M 25% senior secured convertible note due July 2024

## Summary
- Principal amount of $2,400,000 with 25% annual interest (27% upon default), matures July 25, 2024.
- Convertible into common stock at $6.50 per share, subject to 9.99% beneficial ownership cap.
- Secured by all of the company's fixtures, equipment, and intellectual property.
- Issued to an accredited investor in reliance on Section 4(a)(2) exemption.
- Prepayment permitted without penalty; Holder may convert after prepayment notice.

## SEC filing metadata
- accession: 0001558370-23-012422
- form_type: 8-K
- cik: 0001792581
- company_name: Kiromic Biopharma, Inc.
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1792581/000155837023012422/0001558370-23-012422-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1792581/000155837023012422/krbp-20230727x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-012422
- JSON: https://secwatch.observer/filing/0001558370-23-012422.json
- Plain text: https://secwatch.observer/filing/0001558370-23-012422.txt

## Key facts
- Debt Financings
  Kiromic Biopharma, Inc. incurred convertible notes of $2,400,000 at 25% per annum maturing July 25, 2024.
  - Instrument: convertible notes
  - Principal: $2,400,000
  - Rate: 25% per annum
  - Maturity: July 25, 2024
  - Event: incurrence
  source text: On July 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 $2,400,000, bears interest at a rate of 25% per annum (the “Stated Rate”) and matures on July 25, 2024 (the “Maturity Date”), on which the principal balance and accrued but unpaid interest under the Note shall be due and payable.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1792581/000155837023012422/0001558370-23-012422-index.htm
- Material Agreements
  Kiromic Biopharma, Inc. entered into 25% Senior Secured Convertible Promissory Note valued at $2,400,000 (effective 2023-07-25).
  - Action: entry
  - Agreement: notes offering
  - Value: $2,400,000
  - Effective: 2023-07-25
  source text: On July 25, 2023, Kiromic BioPharma, Inc. (the “Company”) issued a 25% Senior Secured Convertible Promissory Note (the “Note”) to an accredited investor.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1792581/000155837023012422/0001558370-23-012422-index.htm

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