---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-020889"
form_type: "8-K"
ticker: "NXXT"
cik: "0001817004"
company_name: "NEXTNRG, INC."
filed_at: "2026-05-01T23:59:59+00:00"
generated_at: "2026-05-15T00:21:29.185207+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# NextNRG enters $1M venture debt at ~203% APR; CEO personally guarantees

## Summary
- Loan principal $1M, net proceeds $930k after $70k origination fee; total repayment $1.45M.
- 24 weekly payments of $60,417; APR ~203%; maturity Oct 13, 2026.
- CEO Michael Farkas personally guarantees and secures all assets as collateral.
- Negative covenants restrict additional debt unless used to repay this loan; $145k fee per violation.
- Broad default triggers including material adverse change, additional financing without consent.

## SEC filing metadata
- accession: 0001493152-26-020889
- form_type: 8-K
- ticker: NXXT
- cik: 0001817004
- company_name: NEXTNRG, INC.
- filed_at: 2026-05-01T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1817004/000149315226020889/0001493152-26-020889-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1817004/000149315226020889/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-020889
- JSON: https://secwatch.observer/filing/0001493152-26-020889.json
- Plain text: https://secwatch.observer/filing/0001493152-26-020889.txt

## Source-grounded claims
- claim_id: 23154f5238e57cd05847db85f7a02642ed948057
  claim: NEXTNRG, INC. incurred loan of $1,000,000 with Venture Debt, LLC at $450,000 interest expense, resulting in a total repayment obligation of $1,450,0 maturing October 13, 2026.
  evidence_excerpt: On April 27, 2026, NextNRG, Inc. (the “Company”) entered into a Business Loan and Security Agreement (the “Venture Debt Agreement”), dated as of April 27, 2026, with Venture Debt, LLC (“Venture Debt”), pursuant to which Venture Debt provided the Company a loan in the principal amount of $1,000,000 (the “Venture Debt Loan”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817004/000149315226020889/0001493152-26-020889-index.htm
- claim_id: b5c61b30953d7f6e643d592a20a7f4a5eb12b98f
  claim: NEXTNRG, INC. entered into Business Loan and Security Agreement with Venture Debt, LLC valued at $1,000,000 (effective 2026-04-27).
  evidence_excerpt: On April 27, 2026, NextNRG, Inc. (the “Company”) entered into a Business Loan and Security Agreement (the “Venture Debt Agreement”), dated as of April 27, 2026, with Venture Debt, LLC (“Venture Debt”), pursuant to which Venture Debt provided the Company a loan in the principal amount of $1,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817004/000149315226020889/0001493152-26-020889-index.htm

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