Next Bridge Hydrocarbons increases CEO promissory note capacity by $5M to $25M

Next Bridge Hydrocarbons, Inc.

Tenth Amendment to 5% unsecured promissory note with CEO Gregory McCabe raises borrowing limit from $20M to $25M.
Amendment effective January 14, 2026; Audit Committee approved the increase; all other terms unchanged.
Lender is Chairman/CEO and largest stockholder, making this a related-party transaction.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Next Bridge Hydrocarbons, Inc. amended debt of up to $25,000,000 with Gregory McCabe at 5%.

Principal: up to $25,000,000
Counterparty: Gregory McCabe
Rate: 5%
Event: amendment

Exact text from the filing

to increase the principal amount available for disbursement to the Company from $20,000,000 to up to $25,000,000

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Next Bridge Hydrocarbons, Inc. amended Tenth Amendment to 5% Unsecured Promissory Note with Gregory McCabe valued at increase the principal amount available for disbursement to the Company from $20,000,000 to up to $2 (effective 2026-01-07).

Action: amendment
Agreement: notes offering
Counterparty: Gregory McCabe
Value: increase the principal amount available for disbursement to the Company from $20,000,000 to up to $2
Effective: 2026-01-07

Exact text from the filing

On January 7, 2026, the Company and Mr. McCabe entered into the Tenth Amendment to 5% Unsecured Promissory Note (the “Amendment”) to increase the principal amount available for disbursement to the Company from $20,000,000 to up to $25,000,000.

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Source: SEC EDGAR

accession 0001199835-26-000018

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