---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-002909"
form_type: "8-K"
ticker: null
cik: "0001792581"
company_name: "Kiromic Biopharma, Inc."
filed_at: "2024-03-11T23:59:59+00:00"
generated_at: "2026-06-04T23:56:09.628340+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- Principal $2,000,000, interest 25% p.a., matures March 7, 2025.
- Secured by all intellectual property, fixtures, and equipment.
- Convertible at $2.50 per share; 9.99% beneficial ownership limit applies.
- Default rate rises to 27%; events include non-payment or bankruptcy.
- Issued to accredited investor under Section 4(a)(2) exemption.

## SEC filing metadata
- accession: 0001558370-24-002909
- form_type: 8-K
- cik: 0001792581
- company_name: Kiromic Biopharma, Inc.
- filed_at: 2024-03-11T23:59:59+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/1792581/000155837024002909/0001558370-24-002909-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1792581/000155837024002909/krbp-20240307x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-002909
- JSON: https://secwatch.observer/filing/0001558370-24-002909.json
- Plain text: https://secwatch.observer/filing/0001558370-24-002909.txt

## Key facts
- Debt Financings
  Kiromic Biopharma, Inc. incurred senior notes of $2,000,000 at 25% per annum maturing March 7, 2025.
  - Instrument: senior notes
  - Principal: $2,000,000
  - Rate: 25% per annum
  - Maturity: March 7, 2025
  - Event: incurrence
  source text: On March 7, 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, bears interest at a rate of 25% per annum (the “Stated Rate”) and matures on March 7, 2025
  evidence_url: https://www.sec.gov/Archives/edgar/data/1792581/000155837024002909/0001558370-24-002909-index.htm
- Material Agreements
  Kiromic Biopharma, Inc. entered into 25% Senior Secured Convertible Promissory Note with an accredited investor valued at principal amount of $2,000,000 (effective 2024-03-07).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: an accredited investor
  - Value: principal amount of $2,000,000
  - Effective: 2024-03-07
  source text: On March 7, 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/1792581/000155837024002909/0001558370-24-002909-index.htm

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