8-K
filed February 23, 2024, 6:59 PM ET
ticker NXXT
CIK 0001817004
regulatory
confidence high
sentiment negative
materiality 0.85
NEXTNRG, INC. (NXXT): Nasdaq/NYSE listing notice — EzFill receives Nasdaq delisting determination; issues $165K promissory note to related party
NEXTNRG, INC.
- Nasdaq delist letter on Feb 21 due to failure to regain compliance with $2.5M equity rule by Feb 20.
- Company plans to appeal and present a plan at a hearing; no assurance of acceptance.
- New $165K promissory note with Next Charging at 8% interest (18% after 9 months), due Apr 20.
- Note includes conversion floor at $0.70 and cap at $1.54; subject to Nasdaq 19.99% cap.
- Amendments with Next and AJB cap conversion prices at $1.54 per share on existing notes.
Key facts
Extracted from this filing and checked against the source text.
Listing & Compliance Notices
SEC 8-K Item 3.01
confidence 0.95
NEXTNRG, INC. received a nasdaq delisting notice notice regarding stockholders equity (rules 5550(b)).
- Exchange
- nasdaq
- Notice
- delisting notice
- Deficiency
- stockholders equity
- Rules
- 5550(b)
Exact text from the filing
February 21, 2024, the Company received a delist determination letter (the “Delist Letter”) from the Staff advising the Company that the Staff had determined that the Company did not meet the terms of the extension. Specifically, the Company did not complete its proposed transaction to regain compliance with the Equity Rule and evidence compliance on or before February 20, 2024. The Company plans to request an appeal of the Staff’s determination. At a hearing, the Company intends to present its plan for regaining compliance with the Equity Rule, and may request a further extension to complete
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
NEXTNRG, INC. entered into February Note with Next Charging, LLC valued at $165,000 (effective 2024-02-20).
- Action
- entry
- Counterparty
- Next Charging, LLC
- Value
- $165,000
- Effective
- 2024-02-20
Exact text from the filing
On February 20, 2024, the Company and Next entered into a promissory note (the “February Note”) for the sum of $165,000 (the “Loan”) to be used for the Company’s working capital needs.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
NEXTNRG, INC. amended AJB Global Amendment with AJB Capital Investments, LLC (effective 2024-02-19).
- Action
- amendment
- Counterparty
- AJB Capital Investments, LLC
- Effective
- 2024-02-19
Exact text from the filing
Also on February 19, 2024, the Company and AJB Capital Investments, LLC entered into a global amendment (the “AJB Global Amendment”) to the promissory notes dated as of April 19, 2023, as amended on May 17, 2023, September 22, 2023 and October 13, 2023 (each an “AJB Note” and collectively the “AJB Notes”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
NEXTNRG, INC. amended Next Global Amendment with Next Charging, LLC (effective 2024-02-19).
- Action
- amendment
- Counterparty
- Next Charging, LLC
- Effective
- 2024-02-19
Exact text from the filing
On February 19, 2024, EzFill Holdings, Inc. (the “Company”) and Next Charging, LLC (“Next”) entered into a global amendment (the “Next Global Amendment”) to the promissory notes dated as of July 5, 2023; August 2, 2023; August 30, 2023; September 6, 2023; September 13, 2023; November 3, 2023; November 21, 2023; December 4, 2023; December 13, 2023; December 18, 2023; December 20, 2023; December 27, 2023; January 5, 2024; January 16, 2024; January 25, 2024; and February 7, 2024 (each a “Note” and collectively the “Notes”).
View on SEC.gov
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