zSpace issues additional $4.3 million convertible note

zSpace Inc. (NASDAQ: ZSPC) issued an additional $4.3 million senior secured convertible note to an institutional investor on March 16, according to a company statement. The augmented and virtual reality solutions provider said it will use proceeds to repay existing debt and support working capital.

The note was issued under terms of a securities purchase agreement originally entered April 10, 2025. Under that agreement, zSpace initially issued a senior secured convertible note with a principal amount of $14 million, which closed April 11, 2025.

The newly issued note converts into shares of the company's common stock. zSpace said it intends to use net proceeds to repay outstanding debt, enhance working capital and support general corporate purposes.

The San Jose, California-based company provides AR/VR solutions for education and says it serves over 3,500 school districts, technical centers, community colleges and universities. zSpace holds more than 80 patents related to its immersive learning platform technology.

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