Borealis Foods Inc. - 8-K Filing
Borealis Foods Inc. issued a $3 million convertible promissory note on May 29, 2026, to OXUS CAPITAL PTE LTD., its largest shareholder who owns ~39.09% of the company's common shares and has two board members appointed. The unsecured note carries 10% annual interest due at maturity (August 29, 2026 or later if conversion approvals are delayed) and may be converted into approximately 2,068,966 common shares at $1.45 per share subject to shareholder approval under Nasdaq rules. (Items: 1.01 Entry into a Material Definitive Agreement, 2.03 Creation of a Direct Financial Obligation, 3.02 Unregistered Sales of Equity Securities, 9.01 Financial Statements and Exhibits (d): The following exhibits are being filed herewith: Exhibit No)
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