secwatch.observer — SEC 8-K summary
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Issuer:     Kiromic Biopharma, Inc. (—)
CIK:        0001792581
Form:       8-K
Filed at:   2024-01-11T23:59:59+00:00
Accession:  0001558370-24-000206
Event type: debt
Sentiment:  neutral
Materiality: 0.60
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 2025
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1792581/000155837024000206/0001558370-24-000206-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1792581/000155837024000206/krbp-20240108x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-000206

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