secwatch.observer — SEC 8-K summary
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Issuer:     Kiromic Biopharma, Inc. (—)
CIK:        0001792581
Form:       8-K
Filed at:   2024-05-06T23:59:59+00:00
Accession:  0001558370-24-006806
Event type: debt
Sentiment:  neutral
Materiality: 0.70
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 May 2025
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1792581/000155837024006806/0001558370-24-006806-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1792581/000155837024006806/krbp-20240501x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-006806

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