NextTrip, Inc. (NTRP): debt financing — NextTrip raises $300K via convertible note with warrants to Alumni Capital LP

NextTrip, Inc.

Issued $360K principal note (10% annual interest, matures July 1, 2025) with $60K OID, net $300K proceeds.
Warrants to purchase 80,000 shares at $4.50/share, exercisable for 5 years.
Note convertible upon event of default at 80% of lowest 20-day VWAP; beneficial ownership cap at 9.99% and exchange cap at 19.99%.
Investor entitled to 50% of outstanding amounts if Company receives net cash proceeds between $1M and $2M, and full repayment above $2M.
Securities issued under Regulation D exemption; piggyback registration rights granted.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NextTrip, Inc. incurred debt of $360,000 with an original issue discount of $60,000 with Alumni Capital LP at ten percent (10%) per annum maturing July 1, 2025.

Principal: $360,000 with an original issue discount of $60,000
Counterparty: Alumni Capital LP
Rate: ten percent (10%) per annum
Maturity: July 1, 2025
Event: incurrence

Exact text from the filing

for the sale of a short-term promissory note (the “Note”) and warrants (“Warrants”) to Investor for total consideration of $300,000. The Note is in the principal amount of $360,000 with an original issue discount of $60,000 and guaranteed interest on the principal amount of ten percent (10%) per annum, which shall be due and payable on July 1, 2025 (the

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NextTrip, Inc. filing history →

Source: SEC EDGAR

accession 0001641172-25-002776

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