---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-017775"
form_type: "8-K"
ticker: null
cik: "0001792581"
company_name: "Kiromic Biopharma, Inc."
filed_at: "2023-11-06T23:59:59+00:00"
generated_at: "2026-06-08T21:20:45.415447+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- Issued $2.4M 25% senior secured convertible promissory note to an accredited investor.
- Note matures Nov 2, 2024; convertible at $2.50/share, subject to 9.99% beneficial ownership limit.
- Note secured by company fixtures, equipment, and intellectual property.
- Interest rate rises to 27% upon default; Company may prepay without penalty.
- Issuance exempt from registration under Section 4(a)(2); use of proceeds not disclosed.

## SEC filing metadata
- accession: 0001558370-23-017775
- form_type: 8-K
- cik: 0001792581
- company_name: Kiromic Biopharma, Inc.
- filed_at: 2023-11-06T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1792581/000155837023017775/0001558370-23-017775-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1792581/000155837023017775/krbp-20231102x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-017775
- JSON: https://secwatch.observer/filing/0001558370-23-017775.json
- Plain text: https://secwatch.observer/filing/0001558370-23-017775.txt

## Key facts
- Debt Financings
  Kiromic Biopharma, Inc. incurred convertible notes of $2,400,000 with an accredited investor at 25% per annum maturing November 2, 2024.
  - Instrument: convertible notes
  - Principal: $2,400,000
  - Counterparty: an accredited investor
  - Rate: 25% per annum
  - Maturity: November 2, 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 November 2, 2024 (the “Maturity Date”), on which the principal balance and accrued but unpaid interest
  evidence_url: https://www.sec.gov/Archives/edgar/data/1792581/000155837023017775/0001558370-23-017775-index.htm
- Material Agreements
  Kiromic Biopharma, Inc. entered into 25% Senior Secured Convertible Promissory Note with an accredited investor valued at $2,400,000 (effective 2023-11-02).
  - Action: entry
  - Counterparty: an accredited investor
  - Value: $2,400,000
  - Effective: 2023-11-02
  source text: On November 2, 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1792581/000155837023017775/0001558370-23-017775-index.htm

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