NextTrip secures $4M from Lind via $4.6M convertible note at $3.88 conversion price

NextTrip, Inc.

Received $4M funding from Lind Global Fund III LP in exchange for $4.6M senior secured convertible note and warrant for 1,030,928 shares at $3.88.
Note has 14 monthly installments of $328,571 starting day 120; can be repaid in cash at 1.04x or stock at 90% of 5-lowest VWAP.
Conversion price $3.88, subject to full-ratchet anti-dilution; warrant exercisable for 5 years with cashless exercise.
Proceeds to accelerate NextTrip Pro, JOURNY TV, YADA Commerce, and retire existing convertible obligations.
Note secured by first-priority lien on all assets; subsidiaries guarantee; ownership cap at 4.99% (can increase to 9.99%).

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