NextTrip raises $85K in Series N preferred and warrants; extends forbearance to Mar 2025

NextTrip, Inc.

Issued 17,000 shares of Series N Nonvoting Convertible Preferred and warrants for 17,000 shares at $5.00/unit for $85,000 gross proceeds.
Warrants exercisable at $7.50/share, six-month lockup, three-year term; conversion of preferred requires shareholder approval for Exchange Cap removal.
Extended forbearance with NextTrip Holdings to March 31, 2025, delaying contingent share issuance and board appointments tied to Nasdaq listing approval.
Net proceeds to be used for working capital; Series N Certificate of Designation filed Jan 30, 2025.

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.: Filed Certificate of Designation for Series N Convertible Preferred Stock, designating 500,000 shares with specific terms on ranking, dividends, voting, conversion, and liquidation (effective 2025-01-30).

Change: charter amendment
Effective: 2025-01-30

Exact text from the filing

On January 30, 2025, the Company filed a Certificate of Designation of Series N Convertible Preferred Stock (the “Series N Certificate of Designation”) with the Secretary of State of the State of Nevada, designating 500,000 shares of the Company’s preferred stock as Series N Convertible Preferred Stock, par value $0.001 per share.

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13 governance changes filed in the last 30 days. Browse all governance changes →

NextTrip, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-25-004477

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