secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2026-03-13T23:59:59+00:00
Accession:  0001493152-26-010093
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000149315226010093/0001493152-26-010093-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000149315226010093/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-010093

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