secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2026-04-23T23:59:59+00:00
Accession:  0001493152-26-018757
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NextNRG raises $500K via two secured convertible notes with variable pricing and onerous terms
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- Issued $275K note to Agile Hudson Partners for $250K net; 10% OID plus 50,000 commitment shares.
- Issued $275K note to FirstFire Global Opportunities for $250K net; same OID, commitment shares, and variable conversion at 80% of lowest VWAP (floor $0.10).
- Notes mature April 2027, prepayable at 100-110% of principal+interest; default triggers 150% penalty and $5K monthly increase.
- Negative covenant bans variable-rate transactions until notes extinguished; both notes rank pari passu with existing Leviston and FirstFire secured debt.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000149315226018757/0001493152-26-018757-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000149315226018757/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-018757

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer