EzFill to issue 100M shares for Next Charging; vesting tied to target acquisition and EV charging deployment

NEXTNRG, INC.

Issues 100M common shares to acquire 100% of Next Charging in amended exchange agreement.
70M shares vest at close if Next Charging completes specified target acquisition; otherwise 35M vest.
30M restricted shares vest upon commercial deployment of third solar/wireless EV charging system.
Michael Farkas, ~20% beneficial owner of EzFill and $2.925M lender to Next Charging, represents members.
Termination date for closing is December 30, 2023; conditions include patent assignment to Next Charging.

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 Amended and Restated Exchange Agreement with Members of Next Charging LLC and Michael Farkas valued at 100,000,000 shares of Common Stock (effective 2023-11-02).

Action: entry
Agreement: asset purchase
Counterparty: Members of Next Charging LLC and Michael Farkas
Value: 100,000,000 shares of Common Stock
Effective: 2023-11-02

Exact text from the filing

On November 2, 2023, the Company, the Members and the Members’ Representative executed an amended and restated agreement to replace the Original Exchange Agreement in its entirety (the “ Amended and Restated Exchange Agreement ”).

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33 material agreements filed in the last 30 days. Browse all material agreements →

NEXTNRG, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-039904

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