---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-006806"
form_type: "8-K"
ticker: null
cik: "0001792581"
company_name: "Kiromic Biopharma, Inc."
filed_at: "2024-05-06T23:59:59+00:00"
generated_at: "2026-06-02T22:17:50.210018+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- Principal $2,000,000, 25% annual interest (27% on default), matures May 1, 2025.
- Convertible into common stock at $2.50/share, subject to 19.99% beneficial ownership limitation.
- Note is senior secured by all company fixtures, equipment, and intellectual property.
- Issued to an accredited investor in reliance on Section 4(a)(2) exemption.
- Company may prepay without penalty on 10 days' notice; Holder may convert until prepaid.

## SEC filing metadata
- accession: 0001558370-24-006806
- form_type: 8-K
- cik: 0001792581
- company_name: Kiromic Biopharma, Inc.
- filed_at: 2024-05-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1792581/000155837024006806/0001558370-24-006806-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1792581/000155837024006806/krbp-20240501x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-006806
- JSON: https://secwatch.observer/filing/0001558370-24-006806.json
- Plain text: https://secwatch.observer/filing/0001558370-24-006806.txt

## Key facts
- Debt Financings
  Kiromic Biopharma, Inc. incurred convertible notes of principal amount of $2,000,000 with an accredited investor at interest at a rate of 25% per annum (the “Stated Rate”) maturing matures on May 1, 2025.
  - Instrument: convertible notes
  - Principal: principal amount of $2,000,000
  - Counterparty: an accredited investor
  - Rate: interest at a rate of 25% per annum (the “Stated Rate”)
  - Maturity: matures on May 1, 2025
  - Event: incurrence
  source text: On May 1, 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 May 1, 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/1792581/000155837024006806/0001558370-24-006806-index.htm
- Material Agreements
  Kiromic Biopharma, Inc. entered into 25% Senior Secured Convertible Promissory Note with an accredited investor valued at $2,000,000 (effective 2024-05-01).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: an accredited investor
  - Value: $2,000,000
  - Effective: 2024-05-01
  source text: On May 1, 2024, Kiromic BioPharma, Inc. (the “Company”) issued a 25% Senior Secured Convertible Promissory Note (the “Note”) to an accredited investor.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1792581/000155837024006806/0001558370-24-006806-index.htm

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