secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2025-04-04T23:59:59+00:00
Accession:  0001641172-25-002797
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NextNRG enters $500K merchant cash advance and $1M promissory note at 15% interest
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- Sold $699,500 in future receivables to Wynwood Capital Group for $500,000 (less $15,000 origination fee); 9.72% weekly debit.
- CEO Michael D. Farkas personally guaranteed the Company's obligations under the Merchant Cash Advance Agreement.
- Issued $1,000,000 promissory note to Alcourt LLC at 15% annual interest with $150,000 original issue discount.
- Note matures April 30, 2025; if unpaid, extension to May 31 requires an additional $150,000 fee.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000164117225002797/0001641172-25-002797-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000164117225002797/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-002797

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