EzFill enters $320K convertible note with AJB Capital; issues 260K commitment shares

NEXTNRG, INC.

Issued $320K promissory note to AJB Capital Investments; net proceeds $272K after $48K OID.
Note carries 18% default interest, matures Jan 13, 2024; convertible after event of default.
Issued 260,000 commitment fee shares; reserved 460,000 shares for potential conversion.
Second amendment to prior $1.5M security agreement to include new obligations.
Special shareholder meeting within 60 days to seek approval for the transaction.

Key facts

Extracted from this filing and checked against the source text.

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

NEXTNRG, INC. entered into a notes offering with AJB Capital Investments, LLC valued at $320,000 (effective 2023-10-13).

Action: entry
Agreement: notes offering
Counterparty: AJB Capital Investments, LLC
Value: $320,000
Effective: 2023-10-13

Exact text from the filing

the Company agreed to issue a promissory note in the principal amount of $320,000 (the “Note”), convertible following an event of default into shares of common stock

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

NEXTNRG, INC. entered into Securities Purchase Agreement with AJB Capital Investments, LLC (effective 2023-10-13).

Action: entry
Agreement: equity purchase
Counterparty: AJB Capital Investments, LLC
Effective: 2023-10-13

Exact text from the filing

On October 13, 2023, EzFill Holdings, Inc. (the “Company”) and AJB Capital Investments, LLC (“AJB” or the “Investor”) entered into a securities purchase agreement (the “Agreement”) wherein the Company agreed to issue a promissory note in the principal amount of $320,000

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

NEXTNRG, INC. amended Second Amendment to Securities Purchase Agreement with AJB Capital Investments, LLC (effective 2023-10-13).

Action: amendment
Agreement: credit facility
Counterparty: AJB Capital Investments, LLC
Effective: 2023-10-13

Exact text from the filing

the Company and AJB entered into a second amendment to the security agreement (the “Amendment”), which amends the security agreement dated April 19, 2023

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NEXTNRG, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-037628

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