Borealis Foods Secures $17M Term Loan From Oxus, Sets $33.3M Conversion; Retires Frontwell Debt
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Borealis Foods has secured a $17 million term loan from Oxus Capital at 12% interest, maturing on April 27, 2031, to refinance debt and enhance liquidity. The funds were used to repay $16.2 million owed under the Frontwell facility, which has been terminated without prepayment fees. Additionally, Borealis has established a $33.3 million debt-to-equity conversion agreement, which will convert to equity if a $70 million equity raise is not achieved by July 1, 2026. This financing aims to extend operational runway and simplify cash management.
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