---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-016190"
form_type: "8-K"
ticker: null
cik: "0001792581"
company_name: "Kiromic Biopharma, Inc."
filed_at: "2023-10-02T23:59:59+00:00"
generated_at: "2026-06-10T06:28:08.843413+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- Issued $2.4M 25% senior secured convertible note to accredited investor on Sept 27, 2023.
- Note matures Sept 27, 2024; convertible into common at $5.00/share; secured by IP and equipment.
- Beneficial ownership limited to 9.99%; default rate rises to 27%; share cap under Nasdaq rules.
- Company may incur additional senior or pari passu debt; holder may need to enter intercreditor agreements.
- Amounts funded by wire; proceeds not specified; reliance on Section 4(a)(2) exemption.

## SEC filing metadata
- accession: 0001558370-23-016190
- form_type: 8-K
- cik: 0001792581
- company_name: Kiromic Biopharma, Inc.
- filed_at: 2023-10-02T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1792581/000155837023016190/0001558370-23-016190-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1792581/000155837023016190/krbp-20230927x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-016190
- JSON: https://secwatch.observer/filing/0001558370-23-016190.json
- Plain text: https://secwatch.observer/filing/0001558370-23-016190.txt

## Key facts
- Debt Financings
  Kiromic Biopharma, Inc. incurred senior notes of $2,400,000 with an accredited investor at 25% per annum maturing September 27, 2024.
  - Instrument: senior notes
  - Principal: $2,400,000
  - Counterparty: an accredited investor
  - Rate: 25% per annum
  - Maturity: September 27, 2024
  - Event: incurrence
  source text: 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 September 27, 2024 (the “Maturity Date”), on which the principal balance and accrued but unpaid
  evidence_url: https://www.sec.gov/Archives/edgar/data/1792581/000155837023016190/0001558370-23-016190-index.htm
- Material Agreements
  Kiromic Biopharma, Inc. entered into Note with an accredited investor valued at $2,400,000 (effective 2023-09-27).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: an accredited investor
  - Value: $2,400,000
  - Effective: 2023-09-27
  source text: On September 27, 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 September 27, 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/1792581/000155837023016190/0001558370-23-016190-index.htm

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