{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-26-050459","form_type":"8-K","ticker":"NXXT","cik":"0001817004","company_name":"NEXTNRG, INC.","filed_at":"2026-11-06T21:05:31+00:00","discovered_at":"2026-11-06T21:07:00.227559+00:00","generated_at":"2026-11-06T21:07:37.926103+00:00","sec_items":["1.01","3.02","3.03","5.03","8.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"NextNRG CEO Farkas swaps $7M of debt for Series D preferred to bolster Nasdaq equity","bullets":["CEO Michael D. Farkas exchanged $3,629,924 principal, $2,749,169 interest and $620,907 guarantee fees, totaling $7,000,000, for 7,000 Series D preferred shares at $1,000 stated value.","Series D accrues 18% cumulative dividends compounding monthly, converts initially at $2.20/share with a $0.44 floor; conversion/voting capped at 9.99% (1,684,224 shares) until Nasdaq cap release.","No cash was paid; exchanged obligations were cancelled and related security interests and guaranties released. Series D ranks junior to Series C preferred and senior to common stock.","NextNRG says Nasdaq requires $2.5M stockholders' equity; the exchange is expected to cut $7M of debt but alone does not satisfy the requirement; it awaits a Nasdaq Hearings Panel decision.","Series C buyer consented via Nov 2, 2026 waiver, extended stockholder-approval deadline to Nov 6, 2026, and allowed an up-to-$25.0M equity facility, with at least 20% of proceeds to redeem Series C."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-050459","json":"https://secwatch.observer/filing/0001493152-26-050459.json","markdown":"https://secwatch.observer/filing/0001493152-26-050459.md","text":"https://secwatch.observer/filing/0001493152-26-050459.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1817004/000149315226050459/0001493152-26-050459-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1817004/000149315226050459/form8-k.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-11-06T21:07:37.926103+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}