---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-008627"
form_type: "8-K"
ticker: "NTRP"
cik: "0000788611"
company_name: "NextTrip, Inc."
filed_at: "2025-02-28T23:59:59+00:00"
generated_at: "2026-05-26T00:42:35.008609+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# NextTrip converts $2.6M in debt to restricted equity, eliminates most short-term debt

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-25-008627
- form_type: 8-K
- ticker: NTRP
- cik: 0000788611
- company_name: NextTrip, Inc.
- filed_at: 2025-02-28T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 5.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/788611/000149315225008627/0001493152-25-008627-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/788611/000149315225008627/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-008627
- JSON: https://secwatch.observer/filing/0001493152-25-008627.json
- Plain text: https://secwatch.observer/filing/0001493152-25-008627.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.