---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-010093"
form_type: "8-K"
ticker: "NXXT"
cik: "0001817004"
company_name: "NEXTNRG, INC."
filed_at: "2026-03-13T23:59:59+00:00"
generated_at: "2026-05-15T12:38:44.015291+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# NextNRG issues 3.18M shares to retire $1.75M note; enters receivables sale for $2.1M

## Summary
- Sold 3,181,818 common shares at $0.55/share to Cheetah Capital in exchange for canceling a $1,750,000 promissory note due from July 2025.
- Entered Future Receivables Sale Agreement selling 6.87% of future receipts until $2,772,000 collected; upfront net proceeds of $1,994,965.
- CEO Michael D. Farkas personally guaranteed the company's obligations under the receivables agreement.
- Receivables agreement carries a biweekly fixed payment of $231,000; default interest at 9% per annum.
- Note terminated on March 11, 2026; all obligations under the note are null and void.

## SEC filing metadata
- accession: 0001493152-26-010093
- form_type: 8-K
- ticker: NXXT
- cik: 0001817004
- company_name: NEXTNRG, INC.
- filed_at: 2026-03-13T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1817004/000149315226010093/0001493152-26-010093-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1817004/000149315226010093/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-010093
- JSON: https://secwatch.observer/filing/0001493152-26-010093.json
- Plain text: https://secwatch.observer/filing/0001493152-26-010093.txt

## Key facts
- Material Agreements
  NEXTNRG, INC. terminated the Note with the Noteholder valued at $2,000,000 (effective 2026-03-11).
  - Action: termination
  - Counterparty: the Noteholder
  - Value: $2,000,000
  - Effective: 2026-03-11
  source text: In connection with entry into the March 11 SPA and payment of the Purchase Price through the Noteholder’s absolving of the Company’s liability in the amount of $1,750,000 pursuant to the Note, the Note was terminated on March 11, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817004/000149315226010093/0001493152-26-010093-index.htm
- Material Agreements
  NEXTNRG, INC. entered into Future Receivables Sale and Purchase Agreement with a third party funder (the “Purchaser”) valued at $2,100,000 (effective 2026-03-05).
  - Action: entry
  - Counterparty: a third party funder (the “Purchaser”)
  - Value: $2,100,000
  - Effective: 2026-03-05
  source text: On March 9, 2026, the Company entered into a Future Receivables Sale and Purchase Agreement (the “Receivables Agreement”), dated as of March 5, 2026, with a third party funder (the “Purchaser”). Pursuant to the terms of the Receivables Agreement, the Company agreed to sell to the Purchaser, and the Purchaser agreed to purchase, the Company’s right, title and interest in 6.87% (the “Specified Percentage”) of the Company’s receipts of monies for the sale of its goods and services after the effective date of the Agreement (the “Future Receipts”) until $2,772,000 (the “Purchased Amount”) shall have been delivered by the Company to the Purchaser. In consideration thereof, the Purchaser paid $2,100,000 to the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817004/000149315226010093/0001493152-26-010093-index.htm
- Material Agreements
  NEXTNRG, INC. entered into March 11 Stock Purchase Agreement with the Noteholder valued at $1,750,000 (effective 2026-03-11).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: the Noteholder
  - Value: $1,750,000
  - Effective: 2026-03-11
  source text: On March 11, 2026, the Company entered into a Stock Purchase Agreement (the “March 11 SPA”) with the Noteholder. Pursuant to the terms of the March 11 SPA, the Company agreed to sell to the Noteholder, and the Noteholder agreed to purchase, 3,181,818 shares of the Company’s common stock at a purchase price of $1,750,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817004/000149315226010093/0001493152-26-010093-index.htm

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