Borealis Foods Inc. (BRLS) Form 10-K — Jun 2, 2026
Borealis Foods Inc. (BRLS) reported a severe liquidity crisis in its 10-K filing, disclosing only $0.06 million in cash and a working capital deficit of approximately $61.8 million as of December 31, 2025. The company’s independent auditor has expressed substantial doubt about its ability to continue as a going concern, citing recurring losses and negative operating cash flows. The company faces a critical deadline on July 1, 2026, to raise $70 million in equity financing at $9.00 per share.
Key figures
- Market Cap
- 31120000
- Total Debt
- 33300000
- Debt Amount
- 17000000
- Cash Position
- 60000
- Interest Rate
- 12
- Maturity Date
- 2031-04-27
- Shares Outstanding
- 21463306
- Accumulated Deficit
- 109800000
- Working Capital Deficit
- 61760000
- Required Equity Financing
- 70000000
- Conversion Price Threshold
- 9
- Conversion Deadline
- 2026-07-01
- Lender Ownership Percent
- 24.7
- Nasdaq Compliance Deadline
- 2026-06-29
- Accrued Interest Conversion Option
- 2000000
Price after filing
Close on the filing date to close N calendar days later (from $1.53). Historical, not a forecast.
AI analysis
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AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.