8-K
filed March 5, 2024, 6:59 PM ET
ticker SLSN
CIK 0000883107
earnings
confidence high
sentiment negative
materiality 0.80
Nanophase raises $6M in convertible preferred; Q4 revenue $8M, net loss $2.1M
SOLESENCE, INC.
- Issued 15,000 Series X Preferred shares at $400 each to Strandler, LLC, affiliate of largest shareholder.
- Preferred convertible into 15M common shares at $0.40/share, pending shareholder approval to boost authorized shares to 95M.
- Strandler and Beachcorp extended maturity of three existing loans to October 1, 2025.
- Q4 2023 revenue $8.0M, net loss $2.1M; FY2023 revenue $37.3M, net loss $4.4M (30% from BASF lawsuit legal fees)
- CEO expects 2024 profitable; company had $30M in completed shipments and confirmed purchase orders.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.85
SOLESENCE, INC. reported financial results for the fiscal quarter and year ended December 31, 2023.
- Period
- the fiscal quarter and year ended December 31, 2023
- Result
- reported results
Exact text from the filing
On March 5, 2024, the Company issued a press release announcing certain financial and operational results for the fiscal quarter and year ended December 31, 2023.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.98
SOLESENCE, INC. entered into Securities Purchase Agreement with Strandler, LLC valued at $6,000,000 (effective 2024-03-01).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- Strandler, LLC
- Value
- $6,000,000
- Effective
- 2024-03-01
Exact text from the filing
On March 1, 2024, Nanophase Technologies Corporation (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”), between the Company and Strandler, LLC (“Strandler”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.97
SOLESENCE, INC. amended Second Amendment to Business Loan Agreement (A&R Loan) with Beachcorp, LLC valued at Extended maturity from March 31, 2025 to October 1, 2025 (effective 2024-03-01).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Beachcorp, LLC
- Value
- Extended maturity from March 31, 2025 to October 1, 2025
- Effective
- 2024-03-01
Exact text from the filing
mendment”) with Beachcorp, LLC, which is also an affiliate of our controlling shareholder, Bradford T. Whitmore (“Beachcorp”),
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.97
SOLESENCE, INC. amended Second Amendment to Business Loan Agreement (Term Loan) with Strandler, LLC valued at Extended maturity from March 31, 2025 to October 1, 2025 (effective 2024-03-01).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Strandler, LLC
- Value
- Extended maturity from March 31, 2025 to October 1, 2025
- Effective
- 2024-03-01
Exact text from the filing
the Company also entered into (i) a Second Amendment to Business Loan Agreement (the “Term Loan Agreement Amendment”) with Strandler, LLC
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.97
SOLESENCE, INC. amended Second Amendment to Business Loan Agreement (Revolving Loan) with Beachcorp, LLC valued at Extended maturity from March 31, 2025 to October 1, 2025 (effective 2024-03-01).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Beachcorp, LLC
- Value
- Extended maturity from March 31, 2025 to October 1, 2025
- Effective
- 2024-03-01
Exact text from the filing
mendment”) with Beachcorp, LLC, which is also an affiliate of our controlling shareholder, Bradford T. Whitmore (“Beachcorp”),
View on SEC.gov
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