---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-000206"
form_type: "8-K"
ticker: null
cik: "0001792581"
company_name: "Kiromic Biopharma, Inc."
filed_at: "2024-01-11T23:59:59+00:00"
generated_at: "2026-06-07T00:37:15.979761+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Kiromic BioPharma issues $2M 25% senior secured convertible note due 2025

## Summary
- Issued $2,000,000 25% senior secured convertible promissory note to an accredited investor, maturing January 8, 2025.
- Note convertible into common stock at $2.50 per share, subject to 9.99% beneficial ownership limitation.
- Secured by company's fixtures, equipment, and intellectual property; senior to all subordinated debt and equity.
- Interest rate increases to 27% upon event of default; prepayment allowed without penalty.

## SEC filing metadata
- accession: 0001558370-24-000206
- form_type: 8-K
- cik: 0001792581
- company_name: Kiromic Biopharma, Inc.
- filed_at: 2024-01-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1792581/000155837024000206/0001558370-24-000206-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1792581/000155837024000206/krbp-20240108x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-000206
- JSON: https://secwatch.observer/filing/0001558370-24-000206.json
- Plain text: https://secwatch.observer/filing/0001558370-24-000206.txt

## Key facts
- Debt Financings
  Kiromic Biopharma, Inc. incurred convertible notes of $2,000,000 with an accredited investor at 25% per annum maturing January 8, 2025.
  - Instrument: convertible notes
  - Principal: $2,000,000
  - Counterparty: an accredited investor
  - Rate: 25% per annum
  - Maturity: January 8, 2025
  - Event: incurrence
  source text: 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 January 8, 2025 (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/1792581/000155837024000206/0001558370-24-000206-index.htm
- Material Agreements
  Kiromic Biopharma, Inc. entered into Note with an accredited investor valued at $2,000,000 (effective 2024-01-08).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: an accredited investor
  - Value: $2,000,000
  - Effective: 2024-01-08
  source text: On January 8, 2024, 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/1792581/000155837024000206/0001558370-24-000206-index.htm

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