NEXTNRG, INC. (NXXT): debt financing — NextNRG issues 1.08M shares to cancel $2.325M debt; new $2M note at 18% interest

NEXTNRG, INC.

Issued 1,081,395 restricted shares at $2.15/share to settle $2,325,000 debt owed under a March 2025 agreement.
Executed $2,000,000 promissory note on July 15, 2025; 18% fixed interest, 5% OID, matures March 11, 2026.
Note requires $125,000 monthly payments starting Aug 15, 2025; Company elected to pay $360,000 interest in 197,802 restricted shares at ~$1.82/share.
Both share issuances were private placements exempt from registration under Section 4(a)(2) of the Securities Act.
Proceeds from note used for working capital; debt extinguishment reduces liabilities by $2.325M.

item 1.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

NEXTNRG, INC. incurred loan of $2,000,000 at 18% per annum maturing March 11, 2026.

Instrument: loan
Principal: $2,000,000
Rate: 18% per annum
Maturity: March 11, 2026
Event: incurrence

Exact text from the filing

On July 15, 2025, the Company and a lender entered into a promissory note (the “Note”) for the principal sum of $2,000,000 to be used for the Company’s working capital needs. The principal balance of the Note has a fixed interest rate of 18% per annum, an original issue discount of five percent (5%) and matures on March 11, 2026.

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NEXTNRG, INC. filing history →

Source: SEC EDGAR

accession 0001641172-25-020087

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