secwatch.observer — SEC 8-K summary
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Issuer:     NEXTNRG, INC. (NXXT)
CIK:        0001817004
Form:       8-K
Filed at:   2025-07-17T23:59:59+00:00
Accession:  0001641172-25-020087
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NextNRG issues 1.08M shares to cancel $2.325M debt; new $2M note at 18% interest
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817004/000164117225020087/0001641172-25-020087-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817004/000164117225020087/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-020087

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