{"filing":{"accession_number":"0001213900-26-065290","cik":"0001852973","ticker":"BRLSW","company_name":"Borealis Foods Inc.","form":"8-K","filing_date":"2026-06-04","report_date":null,"primary_document":"ea0293479-8k_borealis.htm","primary_document_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390026065290/ea0293479-8k_borealis.htm"},"events":[{"id":6853,"run_id":6004,"accession_number":"0001213900-26-065290","anchor_item_number":"1.01","event_type":"dilutive_issuance","event_domain":"financial","is_material":true,"confidence":0.92,"summary":"Borealis Foods issued a $3 million convertible promissory note to Oxus Capital (its largest shareholder with 39.09% ownership) convertible into approximately 2.07 million common shares at $1.45/share in an unregistered offering. The convertible feature and substantial dilution potential, which would require shareholder approval under Nasdaq rules, make this a material dilutive issuance.","company_name":"Borealis Foods Inc.","ticker":"BRLSW","filing_date":"2026-06-04","form":"8-K","submitted_at":null,"items":[{"id":4387,"accession_number":"0001213900-26-065290","item_number":"1.01","item_title":"Entry into a Material Definitive Agreement.","event_type":"dilutive_issuance","event_domain":"financial","is_material":true,"confidence":0.75,"reasoning":"Borealis Foods issued a $3 million convertible promissory note to Oxus Capital, its largest shareholder (39.09% ownership), convertible into approximately 2.07 million common shares at $1.45/share. While technically a debt instrument, the convertible feature and the substantial dilution potential (conversion would require shareholder approval under Nasdaq rules) make this a dilutive issuance. The company is raising capital through a convertible security with a related party, which is material to investors assessing ownership dilution and capital structure.","classifier_version":"claude-haiku-4-5-20251001+prompt-9e0ffca5","taxonomy_version":"v1","classified_at":"2026-06-05T05:16:46.036727+00:00","company_name":"","ticker":null,"filing_date":""},{"id":4388,"accession_number":"0001213900-26-065290","item_number":"2.03","item_title":"Creation of a Direct Financial Obligation.","event_type":"other_material","event_domain":"catchall","is_material":true,"confidence":0.65,"reasoning":"Item 2.03 discloses creation of a direct financial obligation via a Note issued May 29, 2026 for $3.0 million principal. While this is a material debt obligation, the filing references Item 1.01 for full details. Without visibility into Item 1.01's content, the underlying transaction type (e.g., whether this is part of M\u0026A, a covenant breach trigger, or routine financing) cannot be definitively determined. The $3.0 million obligation is material to a small-cap issuer, but the event is best classified as other_material pending clarification of the Note's context and terms.","classifier_version":"claude-haiku-4-5-20251001+prompt-9e0ffca5","taxonomy_version":"v1","classified_at":"2026-06-05T05:16:46.036727+00:00","company_name":"","ticker":null,"filing_date":""},{"id":4389,"accession_number":"0001213900-26-065290","item_number":"3.02","item_title":"Unregistered Sales of Equity Securities.","event_type":"dilutive_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"Item 3.02 discloses an unregistered sale of a convertible note with common shares issuable upon conversion, issued in reliance on an exemption from Securities Act registration. The filing explicitly references dilutive impact concerns and potential conversion into common shares, which are hallmarks of a dilutive issuance. This is material to investors as it signals potential equity dilution and capital raising activity.","classifier_version":"claude-haiku-4-5-20251001+prompt-9e0ffca5","taxonomy_version":"v1","classified_at":"2026-06-05T05:16:46.036727+00:00","company_name":"","ticker":null,"filing_date":""}]}],"classifications":[{"id":4387,"accession_number":"0001213900-26-065290","item_number":"1.01","item_title":"Entry into a Material Definitive Agreement.","event_type":"dilutive_issuance","event_domain":"financial","is_material":true,"confidence":0.75,"reasoning":"Borealis Foods issued a $3 million convertible promissory note to Oxus Capital, its largest shareholder (39.09% ownership), convertible into approximately 2.07 million common shares at $1.45/share. While technically a debt instrument, the convertible feature and the substantial dilution potential (conversion would require shareholder approval under Nasdaq rules) make this a dilutive issuance. The company is raising capital through a convertible security with a related party, which is material to investors assessing ownership dilution and capital structure.","classifier_version":"claude-haiku-4-5-20251001+prompt-9e0ffca5","taxonomy_version":"v1","classified_at":"2026-06-05T05:16:46.036727+00:00","company_name":"Borealis Foods Inc.","ticker":"BRLSW","filing_date":"2026-06-04"},{"id":4388,"accession_number":"0001213900-26-065290","item_number":"2.03","item_title":"Creation of a Direct Financial Obligation.","event_type":"other_material","event_domain":"catchall","is_material":true,"confidence":0.65,"reasoning":"Item 2.03 discloses creation of a direct financial obligation via a Note issued May 29, 2026 for $3.0 million principal. While this is a material debt obligation, the filing references Item 1.01 for full details. Without visibility into Item 1.01's content, the underlying transaction type (e.g., whether this is part of M\u0026A, a covenant breach trigger, or routine financing) cannot be definitively determined. The $3.0 million obligation is material to a small-cap issuer, but the event is best classified as other_material pending clarification of the Note's context and terms.","classifier_version":"claude-haiku-4-5-20251001+prompt-9e0ffca5","taxonomy_version":"v1","classified_at":"2026-06-05T05:16:46.036727+00:00","company_name":"Borealis Foods Inc.","ticker":"BRLSW","filing_date":"2026-06-04"},{"id":4389,"accession_number":"0001213900-26-065290","item_number":"3.02","item_title":"Unregistered Sales of Equity Securities.","event_type":"dilutive_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"Item 3.02 discloses an unregistered sale of a convertible note with common shares issuable upon conversion, issued in reliance on an exemption from Securities Act registration. The filing explicitly references dilutive impact concerns and potential conversion into common shares, which are hallmarks of a dilutive issuance. This is material to investors as it signals potential equity dilution and capital raising activity.","classifier_version":"claude-haiku-4-5-20251001+prompt-9e0ffca5","taxonomy_version":"v1","classified_at":"2026-06-05T05:16:46.036727+00:00","company_name":"Borealis Foods Inc.","ticker":"BRLSW","filing_date":"2026-06-04"}]}