Borealis Foods Inc.
Company Information
Industry
Food and Kindred Products
SIC Code
2000
Entity Type
operating
SEC Category
Emerging growth company
State of Incorporation
Cayman Islands
Business Address
1540 CORNWALL RD. #104, OAKVILLE, A6, L6J 7W5
Mailing Address
1540 CORNWALL RD. #104, OAKVILLE, A6, L6J 7W5
Phone
1 905-278-2200
Fiscal Year End
1231
EIN
000000000
Financial Overview
FY2024 FY
$29.98M
Revenue
-$25.33M
Net Income
$65.79M
Total Assets
Recent SEC Filings
| Form Type | Date Filed | Document |
|---|---|---|
| 8-K Current report of material events | April 2, 2026 | View on SEC |
| 8-K Current report of material events | March 6, 2026 | View on SEC |
| SCHEDULE 13G Passive beneficial ownership (>5%) | February 27, 2026 | View on SEC |
| 8-K Current report of material events | February 23, 2026 | View on SEC |
| 8-K Current report of material events | February 6, 2026 | View on SEC |
| 8-K Current report of material events | January 29, 2026 | View on SEC |
| 8-K/A Current report amendment | January 20, 2026 | View on SEC |
| 8-K Current report of material events | January 16, 2026 | View on SEC |
| 8-K Current report of material events | December 16, 2025 | View on SEC |
| 10-Q Quarterly financial report | November 19, 2025 | View on SEC |
Material Events
8-K
Financial Distress
April 2, 2026
High Impact
- Secured a forbearance agreement with Frontwell Capital Partners to avoid immediate debt repayment.
- Appointment of a Chief Restructuring Officer to oversee all financial operations and spending.
8-K
Legal Issue
March 6, 2026
High Impact
- Borealis Foods faces compounding risks from a product recall and a Nasdaq listing compliance issue.
- The company's operational stability, financial outlook, and corporate governance are significantly impacted.
8-K
Financial Distress
February 6, 2026
High Impact
- Borealis Foods Inc. received an "Events of Default" notice from its primary lender, Frontwell Capital Partners Inc.
- The company breached a minimum liquidity covenant ($4,375,000) and failed to deliver timely financial reports for October and November 2025.
8-K
Other
January 16, 2026
High Impact
- Auditor change is procedural and not due to disagreements, reassuring investors about financial reporting integrity.
- Company plans to submit a compliance plan to Nasdaq and hold the annual meeting within the required timeframe.
8-K
Financial Distress
December 16, 2025
High Impact
- Borealis Foods Inc. has defaulted on its loan agreement with Frontwell Capital Partners Inc. due to multiple unmet conditions.
- The lender has imposed an immediate 2% increase in interest rates on Borealis Foods' existing $15 million term loans and up to $10 million in revolving loans.
Related Companies
Companies in the same industry (SIC: 2000)
Investor Resources
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Important Disclaimer
This AI-generated analysis is for informational purposes only and does not constitute financial or investment advice. Always consult with qualified professionals and conduct your own research before making investment decisions.