NEXTNRG, INC. (NXXT): debt financing — NextNRG enters $899K equipment lease and $436K promissory note from CEO

NEXTNRG, INC.

Entered equipment lease with Equify Financial for $899,640 total cost; 36-month term with monthly payments of $27,886 initially, then $27,790.
CEO Michael D. Farkas provided $436K promissory note at 12% interest, with $46K original issue discount, for working capital.
Note matures earlier of June 9, 2026 or cumulative capital raise of at least $4M.
Lease No. 001 includes purchase option at end of term for $179,928 (estimated fair market value).

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

NEXTNRG, INC. incurred loan of $436,000 with Michael D. Farkas at 12% per annum maturing the earlier of (i) June 9, 2026 or (ii) the date the Company completes a cumulative capital raise of at least $4 million following June 10, 2025.

Instrument: loan
Principal: $436,000
Counterparty: Michael D. Farkas
Rate: 12% per annum
Maturity: the earlier of (i) June 9, 2026 or (ii) the date the Company completes a cumulative capital raise of at least $4 million following June 10, 2025
Event: incurrence

Exact text from the filing

On June 10, 2025, the Company and Michael D. Farkas entered into a promissory note (the “June 10 Note”) for the principal sum of $436,000 to be used for the Company’s working capital needs. The unpaid principal balance of the June 10 Note has a fixed interest rate of 12% per annum and matures on the earlier of (i) June 9, 2026 or (ii) the date the Company completes a cumulative capital raise of at least $4 million following June 10, 2025.

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NEXTNRG, INC. filing history →

Source: SEC EDGAR

accession 0001641172-25-015066

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