secwatch.observer — SEC 8-K summary
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Issuer:     NextTrip, Inc. (NTRP)
CIK:        0000788611
Form:       8-K
Filed at:   2026-05-08T23:59:59+00:00
Accession:  0001493152-26-021972
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 5.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NextTrip raises $1.015M via Series B Convertible Preferred Stock and warrant
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- Issued 368,421 Series B Preferred Shares at $2.755 each plus 40,000 issuance fee shares and a warrant for 100,000 common shares at $2.755.
- Proceeds of $1.015M for working capital; CEO William Kerby pledges 1,365,314 common shares as collateral under a limited recourse guarantee.
- Preferred shares carry 12% annual dividend (18% on default), mandatory redemption by August 30, 2026 (holder may extend to Dec. 31, 2026).
- Company must file resale registration statement within 15 days; use best efforts to make effective within 30 days.
- Purchaser gets 20% participation right in future offerings and exchange right for offered securities at 100% of stated value.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/788611/000149315226021972/0001493152-26-021972-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/788611/000149315226021972/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-021972

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