8-K
filed February 28, 2025, 6:59 PM ET
ticker NTRP
CIK 0000788611
other material
confidence high
sentiment positive
materiality 0.65
NextTrip converts $2.6M in debt to restricted equity, eliminates most short-term debt
NextTrip, Inc.
- Converted $2.6M in short-term debt (including $1.5M from CEO Kerby and Chairman Monaco) into restricted preferred stock ahead of Feb 28 fiscal year-end.
- Issued 341,126 Series I Convertible Preferred shares at $3.02/sh to accredited investors; net proceeds used for working capital.
- Issued 496,687 Series L Nonvoting Convertible Preferred shares to CEO and Chairman to settle $1.5M in deferred salary and notes.
- Issued 93,750 Series P Preferred shares plus warrants to AOS Holdings for $375K; also converted $1M AOS note into 250,000 Series P shares.
- Amended Series I and L certificates of designation to increase authorized shares; created Series P Nonvoting Convertible Preferred.
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 a new Certificate of Designation for Series P Nonvoting Convertible Preferred Stock, designating 343,750 shares (effective 2025-02-25).
- Change
- charter amendment
- Effective
- 2025-02-25
Exact text from the filing
designating 343,750 shares of the Company’s preferred stock as Series P Nonvoting 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.: Increased the number of shares designated as Series L Convertible Preferred Stock from 579,469 to 1,076,158 (effective 2025-02-25).
- Change
- charter amendment
- Effective
- 2025-02-25
Exact text from the filing
to increase the number of shares of the Company’s preferred stock designated as Series L Convertible Preferred Stock, par value $0.001 per share, to 1,076,158 shares.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
NextTrip, Inc.: Increased the number of shares designated as Series I Convertible Preferred Stock from 331,124 to 692,945 (effective 2025-02-25).
- Change
- charter amendment
- Effective
- 2025-02-25
Exact text from the filing
to increase the number of shares of the Company’s preferred stock designated as Series I Convertible Preferred Stock, par value $0.001 per share, to 692,945 shares.
View on SEC.gov
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