---
schema_version: "secwatch.filing_event.v1"
accession: "0001999371-24-003109"
form_type: "8-K"
ticker: "SLSN"
cik: "0000883107"
company_name: "SOLESENCE, INC."
filed_at: "2024-03-05T23:59:59+00:00"
generated_at: "2026-06-05T04:27:59.324315+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Nanophase raises $6M in convertible preferred; Q4 revenue $8M, net loss $2.1M

## Summary
- 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.

## SEC filing metadata
- accession: 0001999371-24-003109
- form_type: 8-K
- ticker: SLSN
- cik: 0000883107
- company_name: SOLESENCE, INC.
- filed_at: 2024-03-05T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.02, 9.01, 3.02, 3.03, 5.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/883107/000199937124003109/0001999371-24-003109-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/883107/000199937124003109/nanophase-8k_030124.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001999371-24-003109
- JSON: https://secwatch.observer/filing/0001999371-24-003109.json
- Plain text: https://secwatch.observer/filing/0001999371-24-003109.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/883107/000199937124003109/0001999371-24-003109-index.htm
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/883107/000199937124003109/0001999371-24-003109-index.htm
- Material Agreements
  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
  source text: mendment”) with Beachcorp, LLC, which is also an affiliate of our controlling shareholder, Bradford T. Whitmore (“Beachcorp”),
  evidence_url: https://www.sec.gov/Archives/edgar/data/883107/000199937124003109/0001999371-24-003109-index.htm
- Material Agreements
  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
  source text: the Company also entered into (i) a Second Amendment to Business Loan Agreement (the “Term Loan Agreement Amendment”) with Strandler, LLC
  evidence_url: https://www.sec.gov/Archives/edgar/data/883107/000199937124003109/0001999371-24-003109-index.htm
- Material Agreements
  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
  source text: mendment”) with Beachcorp, LLC, which is also an affiliate of our controlling shareholder, Bradford T. Whitmore (“Beachcorp”),
  evidence_url: https://www.sec.gov/Archives/edgar/data/883107/000199937124003109/0001999371-24-003109-index.htm

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