secwatch.observer — SEC 8-K summary
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Issuer:     SOLESENCE, INC. (SLSN)
CIK:        0000883107
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001839882-23-012008
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/883107/000183988223012008/0001839882-23-012008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/883107/000183988223012008/nanx-8k_050423.htm
  HTML page:      https://secwatch.observer/filing/0001839882-23-012008

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