Parabolic Technologies, Inc. Announces $11.6 Million Debt Paydown Eliminating All Secured Debt
Advances Project Fortress by completing full payoffs of three convertible notes and retiring associated warrants
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SEATTLE, Nov. 10, 2026 (GLOBE NEWSWIRE) — Parabolic Technologies, Inc. (Nasdaq: PARA) (the “Company”), a leading AI-powered agentic applications technology company, today announced it deployed the $12.1 million proceeds from its recently closed public offering (after underwriting discounts and offering fees) primarily to pay off $11.6 million in debt obligations ahead of schedule, and to retire all warrants held by 3i, LP. The Company believes it now has sufficient operating cash to meet all its short term needs.
The debt paydown was focused on four main obligations:
- Full payoff of our $5.1 million senior convertible note with CP BF Lending, LLC.
- Full payoff of our $4.6 million convertible bridge note with Evergreen Capital Management LLC.
- Full payoff of our senior convertible Private Placement Note with 3i, LP and all outstanding warrants associated with that note, totaling $1.9 million.
“Our recent financing has enabled us to wipe out onerous debt and retire the vast majority of outstanding warrants. This is a game-changer for Parabolic, eliminating the need for us to raise future capital to service this debt, and substantially eliminating our warrant overhang” said Joe Davy, Founder and CEO of Parabolic. “Together with the aggressive cost reductions we’ve already executed, our strengthened balance sheet gives us a clean runway to scale. We are moving forward with a much stronger financial position, completely focused on building great AI products for our customers and driving sustainable returns for our shareholders.”
About Parabolic Technologies, Inc.
Parabolic builds agentic applications that power the future of business. We believe that the future of enterprise software will be agentic applications that are net-beneficiaries of AI transformation, and we focus on building, acquiring, and investing in those and related businesses. We have over 150,000 customers including Amazon, Dell, Salesforce, Aflac, Thermo Fisher Scientific, RBC Wealth Management, and Fitch Group. Learn more at www.parabolic.io. For investors, please visit ir.parabolic.io.
Forward-Looking Statements
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Investor Relations
Dean Ditto
Chief Financial Officer
206 414-1777
ir.parabolic.io
Media
Paul Witkowski
Senior Director Financial Reporting
media@parabolic.io
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