secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2024-03-06T23:59:59+00:00
Accession:  0001493152-24-009029
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EzFill enters $165K promissory note with Next Charging; related-party loan with 10% OID, conversion rights
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- Note for $165,000 with $15,000 OID (10%), 8% interest first 9 months then 18%.
- Maturity April 28, 2024, auto-extends in 2-month periods unless lender objects.
- Upon default, lender can convert outstanding amount at greater of 10-day VWAP or $0.70 floor (cap $2.05).
- Company to issue 52,000 commitment shares to Next; shares deemed fully earned.
- Michael Farkas (20% owner) is managing member of Next; acquisition of Next by EzFill previously disclosed and still pending.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000149315224009029/0001493152-24-009029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000149315224009029/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-009029

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer