Abpro Holdings, Inc. 8-K

What Happened
Abpro Holdings, Inc. filed an 8-K reporting two material items: on January 17, 2026 the company entered a Loan Agreement with its CEO and Chairman, Miles J.W. Suk, under which he will provide an unsecured $147,000 loan to pay the premium for the company’s directors’ and officers’ (D&O) liability insurance. Separately, on January 16, 2026 director Ian McDonald resigned and the board appointed Dr. Byung‑Hak Yoon to fill the vacancy.

Key Details

• Loan amount: $147,000, dated January 17, 2026, to be disbursed directly to the company’s insurance broker or insurer and used solely for the D&O insurance premium.
• Term and interest: nine‑month term from funding; no interest for first three months, then interest at a variable rate equal to three‑month Term SOFR + 2.0% per annum; prepaid at any time without penalty. The loan is unsecured and not third‑party guaranteed.
• Governance change: Ian McDonald resigned from the board and all committees effective January 16, 2026 (not due to any disagreement with the company). Dr. Byung‑Hak Yoon, age 51, was appointed as a Class I director (term through the 2028 annual meeting) and will take McDonald’s committee seats.
• Background on appointee: Dr. Yoon currently serves as CEO of OQPBIOM (since March 2025) and Doowon Science Pharma (since Oct 2023), with prior leadership roles at CanariaBio, Sejong Medica, Thelma Therapeutics and AXCESO Biopharma.

Why It Matters
The loan creates a short‑term, direct financial obligation for Abpro (reported under Item 2.03) but is limited in purpose (paying D&O insurance) and is unsecured. For investors, this clarifies how the company is funding an important insurance cost without diluting equity or issuing debt to external lenders. The board change may affect governance and committee composition; the new director brings industry experience in pharmaceuticals and biotech, which the company cited as the reason for his appointment.