secwatch.observer — SEC 8-K summary
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Issuer:     NextTrip, Inc. (NTRP)
CIK:        0000788611
Form:       8-K
Filed at:   2026-07-22T13:15:36+00:00
Accession:  0001493152-26-034192
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NextTrip secures $4M from Lind via $4.6M convertible note at $3.88 conversion price
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- 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%).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/788611/000149315226034192/0001493152-26-034192-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/788611/000149315226034192/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-034192

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