---
schema_version: "secwatch.filing_event.v1"
accession: "0001839882-23-012008"
form_type: "8-K"
ticker: "SLSN"
cik: "0000883107"
company_name: "SOLESENCE, INC."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T23:47:53.765263+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Nanophase enters $1.75M note with affiliate of majority shareholder for Bolingbrook facility

## Summary
- Borrowed $1.75M non-revolving line of credit from Beachcorp, LLC (affiliate of majority owner Bradford T. Whitmore) at Prime + 0.75%.
- Note matures Sept 30, 2023; proceeds fund clean room and tenant improvements at 400 Crossroads Pkwy, Bolingbrook, IL.
- Principal must be prepaid from any landlord reimbursements received under the December 2021 lease.
- Note secured by all unencumbered assets; related-party transaction due to Whitmore family ownership.
- No financial statements or other exhibits provided beyond the promissory note.

## SEC filing metadata
- accession: 0001839882-23-012008
- form_type: 8-K
- ticker: SLSN
- cik: 0000883107
- company_name: SOLESENCE, INC.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/883107/000183988223012008/0001839882-23-012008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/883107/000183988223012008/nanx-8k_050423.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001839882-23-012008
- JSON: https://secwatch.observer/filing/0001839882-23-012008.json
- Plain text: https://secwatch.observer/filing/0001839882-23-012008.txt

## Key facts
- Debt Financings
  SOLESENCE, INC. incurred loan of $1,750,000 with Beachcorp, LLC at prime rate plus 0.75% maturing September 30, 2023.
  - Instrument: loan
  - Principal: $1,750,000
  - Counterparty: Beachcorp, LLC
  - Rate: prime rate plus 0.75%
  - Maturity: September 30, 2023
  - Event: incurrence
  source text: On May 1, 2023, to advance funds used for work on its Bolingbrook facility which are expected to be reimbursed by its landlord, Nanophase Technologies Corporation (the “Company”) entered into another promissory note (the “Note”) in favor of Beachcorp, LLC in the amount of $1,750,000 with an interest rate of the prime rate plus 0.75%
  evidence_url: https://www.sec.gov/Archives/edgar/data/883107/000183988223012008/0001839882-23-012008-index.htm
- Material Agreements
  SOLESENCE, INC. entered into Promissory Note with Beachcorp, LLC valued at $1,750,000 with interest rate of prime rate plus 0.75% (effective 2023-05-01).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Beachcorp, LLC
  - Value: $1,750,000 with interest rate of prime rate plus 0.75%
  - Effective: 2023-05-01
  source text: On May 1, 2023, to advance funds used for work on its Bolingbrook facility which are expected to be reimbursed by its landlord, Nanophase Technologies Corporation (the “Company”) entered into another promissory note (the “Note”) in favor of Beachcorp, LLC in the amount of $1,750,000 with an interest rate of the prime rate plus 0.75%.
  evidence_url: https://www.sec.gov/Archives/edgar/data/883107/000183988223012008/0001839882-23-012008-index.htm

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