---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-040388"
form_type: "8-K"
ticker: "NTRP"
cik: "0000788611"
company_name: "NextTrip, Inc."
filed_at: "2026-08-27T20:01:18+00:00"
generated_at: "2026-08-27T20:02:06.478367+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# NextTrip converts $3M credit line plus $500K increase into Series B convertible preferred

## Summary
- Exchange Agreement with Monaco Investment Partners II LP (chairman Donald P. Monaco) cancels $3M advances + accrued interest for Series B preferred shares.
- Line of credit increased by $500,000 to $3.5M total; advances exchanged for preferred stock at $1,000 stated value per share.
- Series B preferred pays 12% cumulative compounding dividends, convertible at $3.88 per share, subject to 19.99% ownership cap.
- 4,500 Series B shares designated; conversion/redemption at stated value plus accrued dividends; no shares outstanding under predecessor Series B.
- Related-party transaction approved by disinterested directors and audit committee; securities issued unregistered under Section 4(a)(2)/Reg D.

## SEC filing metadata
- accession: 0001493152-26-040388
- form_type: 8-K
- ticker: NTRP
- cik: 0000788611
- company_name: NextTrip, Inc.
- filed_at: 2026-08-27T20:01:18+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 5.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/788611/000149315226040388/0001493152-26-040388-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/788611/000149315226040388/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-040388
- JSON: https://secwatch.observer/filing/0001493152-26-040388.json
- Plain text: https://secwatch.observer/filing/0001493152-26-040388.txt

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