--- schema_version: "secwatch.filing_event.v1" accession: "0001753926-25-001008" form_type: "8-K" ticker: "CLRO" cik: "0000840715" company_name: "CLEARONE INC" filed_at: "2025-06-25T23:59:59+00:00" generated_at: "2026-05-18T21:46:20.623961+00:00" event_type: "other_material" sentiment: "negative" materiality_score: 0.85 calibrated_materiality_score: 0.85 confidence: "high" source: SEC EDGAR --- # ClearOne secures $3M convertible financing, to pursue asset sale; reduces workforce ## Summary - Issued $3M convertible note to First Finance Ltd., 10% interest; converts to Class B Preferred, then common at $6.008/share. - Board expands to 5; appoints Eric Boehnke and Youngsun Park as director nominees of First Finance Ltd. - Will issue Class A Preferred Stock dividend to common holders by July 18; net proceeds from asset sale distributed pro rata. - If no asset sale in 180 days, company to liquidate or sell assets; significant workforce reduction implemented. - Nasdaq compliance regained after stock traded above $1 for 10 consecutive days ending June 24; delisting avoided. ## SEC filing metadata - accession: 0001753926-25-001008 - form_type: 8-K - ticker: CLRO - cik: 0000840715 - company_name: CLEARONE INC - filed_at: 2025-06-25T23:59:59+00:00 - event_type: other_material - sentiment: negative - materiality_score: 0.85 - calibrated_materiality_score: 0.85 - confidence: high - sec_items: 5.02, 3.01, 3.02, 1.01, 5.03, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/840715/000175392625001008/0001753926-25-001008-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/840715/000175392625001008/clro-20250625.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001753926-25-001008 - JSON: https://secwatch.observer/filing/0001753926-25-001008.json - Plain text: https://secwatch.observer/filing/0001753926-25-001008.txt ## Key facts - Listing & Compliance Notices CLEARONE INC received a nasdaq noncompliance notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)). - Exchange: nasdaq - Notice: noncompliance notice - Deficiency: minimum bid price - Rules: 5550(a)(2), 5810(c)(3)(A) source text: June 20, 2024, the Company received a letter from the Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market ("Nasdaq") informing the Company that because the closing bid price for the Company's Common Stock listed on Nasdaq was below $1.00 for 30 consecutive trading days, the Company was not in compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Marketplace Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). The Company was given a period of 180 calendar days from June 20, 2024, or until December 1 evidence_url: https://www.sec.gov/Archives/edgar/data/840715/000175392625001008/0001753926-25-001008-index.htm - Listing & Compliance Notices CLEARONE INC received a nasdaq compliance regained notice regarding minimum bid price (rules 5550(a)(2)). - Exchange: nasdaq - Notice: compliance regained - Deficiency: minimum bid price - Rules: 5550(a)(2) source text: June 24, 2025, the Company received a letter from Nasdaq advising that the Company's Common Stock had traded above $1.00 per share for the ten consecutive trading days ending June 24, 2025 and had regained compliance with the Minimum Bid Price Requirement and the Company would not be delisted. As of June 24, 2025, the Company is in full compliance with all continued listing standards of the Nasdaq Capital Market. evidence_url: https://www.sec.gov/Archives/edgar/data/840715/000175392625001008/0001753926-25-001008-index.htm - Executive change Eric Boehnke was appointed as Director at CLEARONE INC. - Action: appointed - Role: Director source text: appointed Eric Boehnke and Youngsun Park, a/k/a Sunny Park, to the Board as nominees of the Purchaser evidence_url: https://www.sec.gov/Archives/edgar/data/840715/000175392625001008/0001753926-25-001008-index.htm - Executive change Youngsun Park was appointed as Director at CLEARONE INC. - Action: appointed - Role: Director source text: appointed Eric Boehnke and Youngsun Park, a/k/a Sunny Park, to the Board as nominees of the Purchaser evidence_url: https://www.sec.gov/Archives/edgar/data/840715/000175392625001008/0001753926-25-001008-index.htm - Governance Changes CLEARONE INC: Created Class A Preferred Stock and Class B Preferred Stock through a Certificate of Designation (effective 2025-06-20). - Change: charter amendment - Effective: 2025-06-20 source text: Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. The disclosure of the Class A Preferred Stock and Class B Preferred Stock under Item 1.01 above is incorporate herein by reference. evidence_url: https://www.sec.gov/Archives/edgar/data/840715/000175392625001008/0001753926-25-001008-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.