secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2025-09-19T23:59:59+00:00
Accession:  0001493152-25-014161
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NextNRG issues 1M shares to CEO Farkas at $1.67, cancels $1.67M debt
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- Issued 1,000,000 restricted shares to CEO and Executive Chairman Michael D. Farkas at $1.67 per share.
- Purchase price paid by canceling $1,670,000 of outstanding debt owed by company to Farkas under five promissory notes from May-June 2025.
- Shares issued in private placement exempt from registration under Section 4(a)(2); no shareholder approval required.
- CEO Farkas continues in his roles as CEO and Executive Chairman of NextNRG.
- Company reduces debt while increasing insider ownership; stock closed at $1.67 on issuance date.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000149315225014161/0001493152-25-014161-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000149315225014161/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-014161

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