---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-013277"
form_type: "8-K"
ticker: "NXXT"
cik: "0001817004"
company_name: "NEXTNRG, INC."
filed_at: "2023-04-21T23:59:59+00:00"
generated_at: "2026-06-16T21:35:46.797184+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# EzFill issues $1.5M convertible note, grants 2M commitment shares to AJB Capital

## Summary
- Note principal $1.5M with $150K OID; net proceeds $1.26M after fees.
- Interest 10% (18% on default); maturity Oct 19, 2023.
- Conversion only after default; initial conversion price floor $0.74 or VWAP.
- Issued 2M commitment shares valued at $700K; repurchase option for $1 if note repaid by Oct 19.
- Company granted security interest in all assets to secure obligations.

## SEC filing metadata
- accession: 0001493152-23-013277
- form_type: 8-K
- ticker: NXXT
- cik: 0001817004
- company_name: NEXTNRG, INC.
- filed_at: 2023-04-21T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 3.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1817004/000149315223013277/0001493152-23-013277-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1817004/000149315223013277/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-013277
- JSON: https://secwatch.observer/filing/0001493152-23-013277.json
- Plain text: https://secwatch.observer/filing/0001493152-23-013277.txt

## Key facts
- Material Agreements
  NEXTNRG, INC. entered into Securities Purchase Agreement with AJB Capital Investments, LLC (effective 2023-04-19).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: AJB Capital Investments, LLC
  - Effective: 2023-04-19
  source text: On April 19, 2023, EzFill Holdings, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with AJB Capital Investments, LLC (the “Investor”) with respect to the sale and issuance to the Investor of: (i) an initial commitment fee in the amount of $700,000 in the form of 2,000,000 shares (the “Commitment Fee Shares”) of the Company’s common stock (the “Common Stock”) and (ii) a promissory note in the aggregate principal amount of $1,500,000 (the “Note”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817004/000149315223013277/0001493152-23-013277-index.htm
- Material Agreements
  NEXTNRG, INC. entered into Security Agreement with AJB Capital Investments, LLC (effective 2023-04-19).
  - Action: entry
  - Counterparty: AJB Capital Investments, LLC
  - Effective: 2023-04-19
  source text: The Company entered into a security agreement with the Investor (the “Security Agreement”) pursuant to which the Company granted the Investor a security interest in all of the Company’s assets, securing the Company’s obligations under the Purchase Agreement and Note.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817004/000149315223013277/0001493152-23-013277-index.htm
- Material Agreements
  NEXTNRG, INC. entered into Note with AJB Capital Investments, LLC valued at $1,500,000 (effective 2023-04-19).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: AJB Capital Investments, LLC
  - Value: $1,500,000
  - Effective: 2023-04-19
  source text: Pursuant to the terms of the Purchase Agreement, the initial Commitment Fee Shares were issued at a value of $700,000, the Note was issued in a principal amount of $1,500,000 for a purchase price of $1,350,000, resulting in an original issue discount of $150,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817004/000149315223013277/0001493152-23-013277-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.