NextNRG signs up to $11.8M convertible note and warrant deal; initial close $2.95M

NEXTNRG, INC.

Initial closing: $2.95M principal notes ($2.5M net after 18% OID), warrants for 750K shares at $5.
Investor can purchase additional up to $8.85M notes and warrants for 2.25M shares over 5 years.
Notes convertible at Nasdaq minimum price (floor price applies); no interest pre-default; 18% upon default.
Warrants exercisable for 5 years at $5/share; CEO provides personal guaranty for all obligations.
Also issued $295K due diligence notes and 75K due diligence warrants (10% of each tranche).

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