# EDGAR Filing Document

**Accession Number:** 0001637147
**File Stem:** 0001104659-25-100452
**Filing Date:** 2025-10
**Character Count:** 20407
**Document Hash:** c22b258fdedc4e208ed42617284c5052
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-100452.hdr.sgml**: 20251017

**ACCESSION NUMBER**: 0001104659-25-100452

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20251015

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Submission of Matters to a Vote of Security Holders

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251017

**DATE AS OF CHANGE**: 20251017

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** zSpace, Inc.
- **CENTRAL INDEX KEY:** 0001637147
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 352284050
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42431
- **FILM NUMBER:** 251401454

**BUSINESS ADDRESS:**
- **STREET 1:** 2050 GATEWAY PLACE
- **STREET 2:** SUITE 100-302
- **CITY:** SAN JOSE
- **STATE:** CA
- **ZIP:** 95110
- **BUSINESS PHONE:** (408)498-4050

**MAIL ADDRESS:**
- **STREET 1:** 2050 GATEWAY PLACE
- **STREET 2:** SUITE 100-302
- **CITY:** SAN JOSE
- **STATE:** CA
- **ZIP:** 95110

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported) **October 15, 2025**

**<u>ZSPACE, INC.</u>**

(Exact name of registrant as specified in charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-42431** | **35-2284050** |
| (State or other Jurisdiction of<br> Incorporation or Organization) | (Commission File Number) | (IRS Employer<br> Identification No.) |

---

---

| | |
|:---|:---|
| **55 Nicholson Lane**<br> **San Jose, California** | **95134** |
| (Address of Principal Executive Offices) | (zip code) |

---

**(408) 498-4050**

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, par value $0.00001 per share | ZSPC | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

---

| | |
|:---|:---|
| **Item 1.01** | **Entry into a Material Definitive Agreement** |

---

On October 15, 2025 (the "Effective Date"), zSpace, Inc. (the "Company") entered into an Amendment to Senior Secured Convertible Note (the "Amendment") with an institutional investor (the "Holder"), which amends the terms of the Senior Secured Convertible Note in the original principal amount of $13,978,495, dated April 11, 2025 (the "Note"), previously issued by the Company to the Holder pursuant to a Securities Purchase Agreement with the Holder dated April 10, 2025.

The Amendment revises the definition of "Floor Price" as set forth in the Note from $1.98 per share of the Company's common stock, par value $0.00001 per share ("Common Stock") to $0.60 per share, subject to adjustment for reverse and forward stock splits, recapitalizations and similar transactions.

In addition, the Amendment revises the definition of "Equity Conditions," the satisfaction of which is generally a prerequisite to the Company's ability to make installments payments in shares of Common Stock. The Amendment modifies the definition of "Equity Conditions" to reduce the required minimum VWAP of the Common Stock over the 20 trading days prior to the applicable date from $1.98 to $0.75 and to reduce the required minimum average daily trading volume of the Common Stock during the 20 trading days prior to the applicable date from $300,000 to $200,000.

Except as specifically set forth in the Amendment, all other terms, covenants, and conditions of the Note remain in full force and effect. Capitalized terms used but not otherwise defined in this Current Report on Form 8-K have the respective meanings ascribed to such terms in the Note and the Amendment, as applicable.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 5.07** | **Submission of Matters to a Vote of Security Holders** **.** |

---

On October 15, 2025, the Company held its 2025 annual meeting of stockholders (the "Annual Meeting"). As of August 21, 2025, the record date for the Annual Meeting, there were 24,035,867 shares of Common Stock outstanding, which shares were entitled to an aggregate of 24,035,867 votes at the Annual Meeting. Holders of 18,240,193.1 shares of Common Stock were present in person or by proxy at the Annual Meeting, representing 75.89% of the total outstanding shares of Common Stock, constituting a quorum pursuant to the Company's bylaws.

At the Annual Meeting, five proposals were submitted to the Company's stockholders. A brief summary of the matters voted upon by stockholders at the Annual Meeting is set forth below, and the proposals are described in more detail in the Company's definitive proxy statement filed with the U.S. Securities and Exchange Commission on September 2, 2025.

The final results for the votes regarding each proposal are set forth below:

**Proposal 1**

The Company's stockholders elected Joanna Morris, Abhay Pande, Angela Prince, and Jane Swift as Class I directors of the Company's Board of Directors, to hold office until the next annual meeting of stockholders or until such director's respective successors are elected or appointed and qualified or until any such director's earlier resignation or removal, based upon the following votes:

---

| | | | |
|:---|:---|:---|:---|
| **Nominee** | **For** | **Authority Withheld** | **Broker Non-Vote** |
| Joanna Morris | 17649466.10 | 27815 | 562912 |
| Abhay Pande | 17655414.10 | 21867 | 562912 |
| Angela Prince | 17636111.10 | 41170 | 562912 |
| Jane Swift | 17655829.10 | 21452 | 562912 |

---

**Proposal 2**

The proposal to ratify the selection by the Audit Committee of Company's Board of Directors of UHY LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2025 was ratified by the following vote:

---

| | | |
|:---|:---|:---|
| **For** | **Against** | **Abstained** |
| 18216461.10 | 13398 | 10334 |

---

**Proposal 3**

The issuance of shares of Common Stock in connection with the Convertible Promissory Note, dated April 11, 2025, issued by the Company to an institutional investor, as required by Nasdaq Listing Rule 5635(d), was approved by the following vote:

---

| | | | |
|:---|:---|:---|:---|
| **For** | **Against** | **Abstained** | **Broker Non-Votes** |
| 17643631.10 | 29580 | 4070 | 562912 |

---

**Proposal 4**

The issuance of shares of Common Stock in connection with the Common Stock Purchase Agreement, dated July 7, 2025, by and between the Company and an institutional investor, as required by Nasdaq Listing Rule 5635(d), was approved by the following vote:

---

| | | | |
|:---|:---|:---|:---|
| **For** | **Against** | **Abstained** | **Broker Non-Votes** |
| 17644159.10 | 28009 | 5113 | 562912 |

---

**Proposal 5**

The amendment to the Company's Amended and Restated Certificate of Incorporation to allow for stockholder action by written consent was approved by the following vote:

---

| | | | |
|:---|:---|:---|:---|
| **For** | **Against** | **Abstained** | **Broker Non-Votes** |
| 17470627.10 | 202761 | 3893 | 562912 |

---

**Proposal 6**

The proposal to approve an adjournment of the Annual Meeting, if necessary or advisable, to solicit additional proxies if there were not sufficient votes in favor of the foregoing proposals was withdrawn because the Company's stockholders approved and adopted each of the foregoing proposals, as noted above.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

---

(d) Exhibits

---

| | |
|:---|:---|
| **Exhibit <br> No.** | **Exhibit Description** |
| [10.1](tm2528843d1_ex10-1.htm) | [Amendment to Senior Secured Convertible Note dated October 15, 2025 by and between the Company and the holder set forth on the signature page thereto.](tm2528843d1_ex10-1.htm) |
| 104 | Cover Page Interactive Data File (embedded with the inline XBRL document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: October 17, 2025 | **zSpace, Inc.** | **zSpace, Inc.** |
|  | By: | /s/ Erick DeOliveira |
|  |  | Erick DeOliveira |
|  |  | Chief Financial Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

**<u>AMENDMENT TO SENIOR SECURED CONVERTIBLE NOTE</u>**

This Amendment (this "**Amendment**"), dated as of October 15, 2025 (the "**Effective Date**"), to that certain Senior Secured Convertible Note issued to the holder set forth on the signature page hereto (the "**Holder**"), on April 11, 2025 in the original principal amount of $13,978,495 (the "**Note**"), is entered into by and between zSpace, Inc., a Delaware corporation (the "**Company**"), and the Holder. Capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Note.

WHEREAS, any provision of the Note may be amended by a written instrument executed by the Company and the Holder, which amendment shall be binding on all successors and assigns.

NOW, THEREFORE, in consideration of the covenants and mutual promises contained herein and other good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged and intending to be legally bound hereby, the parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **<u>Waiver</u>**. The Company and the Holder herby acknowledge and agree that (a) an aggregate Acceleration Amount of $2,344,000.00 has been converted by the Holder at the then-current Acceleration Conversion Price pursuant <u>Section 8(d)</u> of the Note, (b) the Company will pay to the Holder an aggregate amount of $509,493.69 in cash as partial satisfaction of the Cash True-Up Amount owed to the Holder in accordance with <u>Section 8(d)</u> of the Note by October 16, 2025, and (c) the Company will pay an additional $108,936.56 as full satisfaction of the Cash True-Up Amount owed to the Holder in accordance with <u>Section 8(d)</u> of the Note, by November 14, 2025, together, in satisfaction of all of the Company's obligations on each of the following Installment Dates: July 11, 2025, August 11, 2025, September 11, 2025, and October 11, 2025. The Parties agree that, as of the Effective Date, there are no outstanding Installment Amounts, Acceleration Amounts, or Cash True-Up Amounts due to the Holder, except the payment of $509,493.69 as partial satisfaction of the Cash True-Up Amount by October 16, 2025 and $108,936.56 as full satisfaction of the Cash True-Up Amount by November 14, 2025. Upon the Effective Date and subject to the terms and conditions of this Amendment, the Holder hereby waives: (i) any and all Events of Default of the Company under the Note as may be known by the Holder to have occurred as of the Effective Date, in each case arising from any events or actions that occurred (or that failed to occur, as applicable) prior to the Effective Date, and will not make any claim (and waive any right to make a claim) against the Company (or any successor thereto) in respect of such waived Events of Default, and (ii) any and all rights that the Holder may have for an Event of Default to accrue on the Note at the Default Rate at all times during the period beginning on the Issuance Date through and including the Effective Date. The Company agrees that the foregoing waivers shall not apply to any current or future Deferrals or Deferral Amounts and shall not be deemed to prejudice any right or remedy that the Holder may now or in the future have under or in connection with the Note other than with respect to the matter for which the forgoing waivers have been provided. The waivers described herein shall not alter, affect, release or prejudice in any way the Company's obligations under the Note, which are hereby ratified and confirmed, except to the extent expressly waived or modified herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. **<u>Amendments to Note</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Section 31(o)</u> of the Note shall be deleted in its entirety and replaced with:

"(o) "**Equity Conditions**" means, during the period in question, (a) the Company shall have duly honored all conversions and redemptions scheduled to occur or occurring by virtue of one or more Conversion Notices of the Holder, if any, (b) the Company shall have paid all liquidated damages and other amounts owing to the Holder in respect of this Note, if any, (c)(i) there is an effective Registration Statement pursuant to which the Holder is permitted to utilize the prospectus thereunder to resell all of the shares of Common Stock issuable pursuant to the Transaction Documents (and the Company believes, in good faith, that such effectiveness will continue uninterrupted for the foreseeable future, except for the filing of post-effective amendment) or (ii) all of the shares of Common Stock issuable pursuant to the Transaction Documents (and shares issuable in lieu of cash payments of interest) may be resold pursuant to Rule 144 by a person that is not an affiliate (as defined in Rule 144 as in effect on the Issuance Date) of the Company, and that has not been an affiliate (as defined in Rule 144 as in effect on the Issuance Date) of the Company during the three months immediately preceding such date, without volume or manner-of-sale restrictions or current public information requirements as determined by the counsel to the Company as set forth in a written opinion letter to such effect, addressed and acceptable to the Transfer Agent and the Holder, (d) the shares of Common Stock are trading on the Principal Market and all of the shares issuable pursuant to the Transaction Documents are listed or quoted for trading on such Principal Market (and the Company believes, in good faith, that trading of the shares of Common Stock on the Principal Market will continue uninterrupted for the foreseeable future), (e) there is a sufficient number of authorized but unissued and otherwise unreserved shares of Common Stock for the issuance of all of the shares then issuable pursuant to the Transaction Documents, (f) there is no existing Event of Default and no existing event which, with the passage of time or the giving of notice, would constitute an Event of Default, (g) the issuance of the shares in question (or, in the case of a Company Optional Redemption or Installment Redemption, the shares issuable upon conversion in full of the Company Optional Redemption Amount or Installment Redemption Amount) to the Holder would not violate the limitations set forth in <u>Section 3(d)</u> herein, (h) there has been no public announcement of a pending or proposed Fundamental Transaction or Change of Control that has not been consummated, (i) the Holder is not in possession of any information provided by the Company, any of its Subsidiaries, or any of their officers, directors, employees, agents or Affiliates, that constitutes, or may constitute, material non-public information, (j) the Company has timely filed all SEC Documents required to be filed with or furnished to the Commission under the Securities Act or the Exchange Act, including those required to be filed with or furnished to the Commission under Section 13(a) or Section 15(d) of the Exchange Act, (k) the daily VWAP of the shares of Common Stock exceeds $0.75 (subject to adjustment for any share split, share dividend, share combination or other similar transactions) on the Principal Market during each Trading Day for the twenty (20) Trading Days prior to the applicable date in question, and (l) the average daily trading volume of the shares of Common Stock on the Principal Market during the twenty (20) Trading Days prior to the applicable date in question exceeds $200,000."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Section 31(s)</u> of the Note shall be deleted in its entirety and replaced with:

"(s) "**Floor Price**" means $0.60, subject to adjustment for reverse and forward stock splits, recapitalizations and similar transactions."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. **<u>Effect</u>**. Upon the Effective Date, each reference in the Note to "this Note", "hereunder", "hereof" or words of like import referring to such agreement, and each reference in the other Transaction Documents to "the Note", "thereof" or words of like import referring to such agreement, shall mean and be a reference to the Note as modified and amended by this Amendment. Except as expressly modified or waived herein, the terms of the Note shall remain in full force and effect and are hereby in all respects ratified and confirmed by the Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. **Governing Law**. The provisions of <u>Section 27</u> of the Note are incorporated herein by reference *mutatis mutandis*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. **Severability**. If any provision of this Amendment is determined to be illegal, invalid or unenforceable, such provision shall be fully severable and the remaining provisions shall remain in full force and effect and shall be construed without giving effect to the illegal, invalid or unenforceable provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. **Counterparts**. This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and shall be binding upon all parties, their successors and assigns, and all of which taken together shall constitute one and the same Amendment. A signature delivered by facsimile shall constitute an original.

*[Remainder of page intentionally blank; signature page to follow.]*

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the Effective Date set forth above.

---

| | |
|:---|:---|
| COMPANY: | COMPANY: |
| **ZSPACE,INC.** | **ZSPACE,INC.** |
| By: | /s/ Paul Kellenberger |
| Name: | Paul Kellenberger |
| Title: | Chairman and CEO |
| HOLDER: | HOLDER: |
| **3i, LP** | **3i, LP** |
| **By: 3i Management, LLC, its General Partner** | **By: 3i Management, LLC, its General Partner** |
| By: | /s/ Maier Joshua Tarlow |
| Name: | Maier Joshua Tarlow |
| Title: | Manager |

---

*Signature Page to <br> Amendment to Senior Secured Convertible Note*