NextTrip, Inc. (NTRP): debt financing — NextTrip secures $3M revolving credit line from Chairman at 12% interest

NextTrip, Inc.

$3M revolving credit facility from Monaco Investment Partners II, LP, controlled by Chairman Donald Monaco; 12% simple interest, maturing May 31, 2027.
Initial advance of $1.045M used to repay $400K cash advance and $645K promissory notes owed to Monaco-affiliated entities.
Line approved by Audit Committee and full Board, including independent members, to address related-party nature.
Company intends to use draws for working capital, marketing, product launches, and technology integration, aiming to limit shareholder dilution.

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 revolving credit of $3,000,000 revolving line of credit with Monaco Investment Partners II, LP at 12% per annum maturing May 31, 2027.

Instrument: revolving credit
Principal: $3,000,000 revolving line of credit
Counterparty: Monaco Investment Partners II, LP
Rate: 12% per annum
Maturity: May 31, 2027
Event: incurrence

Exact text from the filing

On May 6, 2025, NextTrip, Inc. (the “Company”) entered into a Line of Credit Agreement (the “Line of Credit”) with Monaco Investment Partners II, LP (the “Lender”) providing the Company with a $3,000,000 revolving line of credit.

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10 debt financings filed in the last 30 days. Browse all debt financings →

NextTrip, Inc. filing history →

Source: SEC EDGAR

accession 0001641172-25-009176

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