8-K
filed January 3, 2025, 6:59 PM ET
ticker NTRP
CIK 0000788611
other material
confidence high
sentiment neutral
materiality 0.75
NextTrip raises up to $1.72M in cash, converts $2.1M debt into preferred stock
NextTrip, Inc.
- Issued 297,788 Series J preferred shares at $3.02/share for cash.
- Loans of $1M and $220K plus warrants at $4.00; Series K preferred issued as prepaid interest.
- CEO William Kerby and chairman Donald Monaco converted $1.75M in debt into 579,469 Series L preferred shares.
- Up to $500K Series M offering and $350K debt conversion; all preferred convertible only after stockholder approval of Exchange Cap removal.
- Warrants exercisable for up to 1.22M shares at $4.00 per share over three years.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
NextTrip, Inc.: Designated 297,788 shares of Series J Convertible Preferred Stock (effective 2025-01-03).
- Change
- charter amendment
- Effective
- 2025-01-03
Exact text from the filing
On January 3, 2025, the Company filed a Certificate of Designation of Series J Convertible Preferred Stock (the "Series J Certificate of Designation") with the Secretary of State of the State of Nevada, designating 297,788 shares of the Company’s preferred stock as Series J Convertible Preferred Stock, par value $0.001 per share.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
NextTrip, Inc.: Designated 60,595 shares of Series K Convertible Preferred Stock (effective 2025-01-03).
- Change
- charter amendment
- Effective
- 2025-01-03
Exact text from the filing
On January 3, 2025, the Company filed a Certificate of Designation of Series K Convertible Preferred Stock (the "Series K Certificate of Designation") with the Secretary of State of the State of Nevada, designating 60,595 shares of the Company’s preferred stock as Series K Convertible Preferred Stock, par value $0.001 per share.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
NextTrip, Inc.: Designated 579,469 shares of Series L Convertible Preferred Stock (effective 2025-01-03).
- Change
- charter amendment
- Effective
- 2025-01-03
Exact text from the filing
On January 3, 2025, the Company filed a Certificate of Designation of Series L Convertible Preferred Stock (the "Series L Certificate of Designation") with the Secretary of State of the State of Nevada, designating 579,469 shares of the Company’s preferred stock as Series L Convertible Preferred Stock, par value $0.001 per share.
View on SEC.gov
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