---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-26-005926"
form_type: "8-K"
ticker: "NROM"
cik: "0000709005"
company_name: "NOBLE ROMANS INC"
filed_at: "2026-06-12T16:52:32+00:00"
generated_at: "2026-06-12T16:53:15.079684+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Noble Roman's enters $6.9M term loan with Lake Forest Bank, repays Corbel debt and cancels warrants

## Summary
- $6.9M term loan at Term SOFR + 4.00% (currently 7.60%), 5-year maturity, fixed monthly payments.
- Proceeds used to repay ~$5.4M Corbel term loan plus interest, and $500k to repurchase and cancel 5.5M warrants.
- Also repaid $580k subordinated debt and paid $196k in advisory fees plus closing costs.
- New loan has no equity or payment-in-kind interest components, unlike the prior Corbel loan.
- Loan secured by first liens on all assets; must hedge at least 50% notional within 90 days.

## SEC filing metadata
- accession: 0001654954-26-005926
- form_type: 8-K
- ticker: NROM
- cik: 0000709005
- company_name: NOBLE ROMANS INC
- filed_at: 2026-06-12T16:52:32+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/709005/000165495426005926/0001654954-26-005926-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/709005/000165495426005926/nrom_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-26-005926
- JSON: https://secwatch.observer/filing/0001654954-26-005926.json
- Plain text: https://secwatch.observer/filing/0001654954-26-005926.txt

## Key facts
- Debt Financings
  NOBLE ROMANS INC incurred term loan of $6.9 million with Lake Forest Bank & Trust Company, N.A. at Term SOFR plus 4.00% (currently 7.60% per annum) maturing five-year maturity period.
  - Instrument: term loan
  - Principal: $6.9 million
  - Counterparty: Lake Forest Bank & Trust Company, N.A.
  - Rate: Term SOFR plus 4.00% (currently 7.60% per annum)
  - Maturity: five-year maturity period
  - Event: incurrence
  source text: On June 10, 2026, Noble Roman’s, Inc. (the “Company”) entered into a Credit Agreement (the “Agreement”) with Lake Forest Bank & Trust Company, N.A., a subsidiary of Wintrust Financial Corporation (the “Lender”). Pursuant to the Agreement, the Lender provided the Company with a senior secured term loan (the “Term Loan”) in the amount of approximately $6.9 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/709005/000165495426005926/0001654954-26-005926-index.htm
- Material Agreements
  NOBLE ROMANS INC entered into Credit Agreement with Lake Forest Bank & Trust Company, N.A. valued at Senior secured term loan of approximately $6.9 million, Term SOFR plus 4.00% (currently 7.60% per an (effective 2026-06-10).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Lake Forest Bank & Trust Company, N.A.
  - Value: Senior secured term loan of approximately $6.9 million, Term SOFR plus 4.00% (currently 7.60% per an
  - Effective: 2026-06-10
  source text: On June 10, 2026, Noble Roman’s, Inc. (the “Company”) entered into a Credit Agreement (the “Agreement”) with Lake Forest Bank & Trust Company, N.A., a subsidiary of Wintrust Financial Corporation (the “Lender”). Pursuant to the Agreement, the Lender provided the Company with a senior secured term loan (the “Term Loan”) in the amount of approximately $6.9 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/709005/000165495426005926/0001654954-26-005926-index.htm

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