---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-006124"
form_type: "8-K"
ticker: "NXGL"
cik: "0001468929"
company_name: "NEXGEL, INC."
filed_at: "2026-02-11T23:59:59+00:00"
generated_at: "2026-05-16T03:16:45.789401+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NexGel closes $1.8M Series A convertible note; up to $14.9M more for Q1 acquisition

## Summary
- Initial Series A convertible note raised $1,797,381 gross proceeds, bearing 10% interest (18% on default), convertible at $1.244/share with floor $0.2488.
- Proceeds reserved for an approved acquisition; if acquisition closes by April 15, 2026, investor must buy Series B notes up to $14,869,286.
- Series B issuance conditioned on shareholder approval: redomestication to Nevada, reverse split up to 250:1, authorized shares increase to 250M from 25M.
- Convertible notes are senior secured on all company assets; proceeds returned to investor if acquisition not consummated.
- Palladium Capital Group acted as placement agent with 7% cash fee and warrants for 7% of shares sold in the offering.

## SEC filing metadata
- accession: 0001493152-26-006124
- form_type: 8-K
- ticker: NXGL
- cik: 0001468929
- company_name: NEXGEL, INC.
- filed_at: 2026-02-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1468929/000149315226006124/0001493152-26-006124-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1468929/000149315226006124/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-006124
- JSON: https://secwatch.observer/filing/0001493152-26-006124.json
- Plain text: https://secwatch.observer/filing/0001493152-26-006124.txt

## Source-grounded claims
- claim_id: 88e9a0a2b7b95e2ddd5d2b8dd2bc3a00ff4fc8a3
  claim: NEXGEL, INC. incurred convertible notes of $56,667,667 with a certain institutional investor.
  evidence_excerpt: Agreement ”) providing for the purchase by the Investor of a 10% original issue discount (OID) convertible note facility in up to the aggregate original principal amount of $56,667,667 (the “ Convertible Note Facility ”), providing for the purchase by the Investor, in one or more closings, of (i) series A senior secured convertible notes up to an aggregate
  evidence_url: https://www.sec.gov/Archives/edgar/data/1468929/000149315226006124/0001493152-26-006124-index.htm
- claim_id: 9d36b80d6fcb3588b8b4437fc9e57bc898a2cc51
  claim: NEXGEL, INC. entered into Securities Purchase Agreement with a certain institutional investor (effective 2026-02-09).
  evidence_excerpt: On February 9, 2026, NexGel, Inc., a Delaware corporation (the “ Company ”) entered into a Securities Purchase Agreement with a certain institutional investor (the “ Investor ”) named therein (the “ Purchase Agreement ”) providing for the purchase by the Investor of a 10% original issue discount (OID) convertible note facility
  evidence_url: https://www.sec.gov/Archives/edgar/data/1468929/000149315226006124/0001493152-26-006124-index.htm

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