secwatch.observer — SEC 8-K summary
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Issuer:     NOBLE ROMANS INC (NROM)
CIK:        0000709005
Form:       8-K
Filed at:   2026-06-12T16:52:32+00:00
Accession:  0001654954-26-005926
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/709005/000165495426005926/0001654954-26-005926-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/709005/000165495426005926/nrom_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-26-005926

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