---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-002776"
form_type: "8-K"
ticker: "NTRP"
cik: "0000788611"
company_name: "NextTrip, Inc."
filed_at: "2025-04-04T23:59:59+00:00"
generated_at: "2026-05-23T21:54:05.440238+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# NextTrip raises $300K via convertible note with warrants to Alumni Capital LP

## Summary
- 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.

## SEC filing metadata
- accession: 0001641172-25-002776
- form_type: 8-K
- ticker: NTRP
- cik: 0000788611
- company_name: NextTrip, Inc.
- filed_at: 2025-04-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/788611/000164117225002776/0001641172-25-002776-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/788611/000164117225002776/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-002776
- JSON: https://secwatch.observer/filing/0001641172-25-002776.json
- Plain text: https://secwatch.observer/filing/0001641172-25-002776.txt

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