secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2023-04-21T23:59:59+00:00
Accession:  0001493152-23-013277
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223013277/0001493152-23-013277-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000149315223013277/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-013277

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