secwatch.observer — SEC 8-K summary
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Issuer:     NOBLE ROMANS INC (NROM)
CIK:        0000709005
Form:       8-K
Filed at:   2025-04-15T23:59:59+00:00
Accession:  0001654954-25-004242
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Noble Roman's amends loan: maturity extended to June 2026, interest to SOFR+9%, warrants repriced
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- Maturity of $8M senior secured note extended from April 14, 2025 to June 30, 2026.
- Cash interest rate changed to SOFR+9% with 4.25% floor; 3% PIK interest discontinued.
- Monthly principal payments increased to $91,667 from $83,333, starting April 30, 2025.
- Existing warrant exercise price reduced from $0.30 to $0.10; new warrant for 750k shares at $0.10.
- Contingent additional warrants: 500k if note not redeemed by Aug 14, 2025, plus 250k per month thereafter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/709005/000165495425004242/0001654954-25-004242-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/709005/000165495425004242/nrom_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-25-004242

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer