NextNRG Raises $2.1M via Receivables Sale and Settles $1.75M Debt With Equity; Note Terminated

NextNRG executed two financing moves and retired an existing note. The company sold 6.87% of future receipts for $2,100,000 upfront (less $105,035 fees), committing to biweekly remittances and granting a first-priority lien, with a personal guaranty from its CEO. Separately, NextNRG issued 3,181,818 shares at $0.55 per share to extinguish $1,750,000 of noteholder debt, and concurrently terminated the underlying promissory note. The actions provide liquidity and reduce leverage.Agreement 1: NextNRG Issues 3.18M Shares at $0.55 to Settle $1.75M of Noteholder DebtAgreement type: Stock Purchase Agreement (debt-for-equity exchange)Counterparty: NoteholderSigned / Effective: Mar 11 2026 / sameDuration / Termination: N/AReason: Reduce debt via equity issuance to settle noteAgreement 2: NextNRG Sells 6.87% of Future Receipts for $2.1M; Up to $2.772M to PurchaserAgreement type: Future receivables sale and purchase agreementCounterparty: PurchaserSigned / Effective: Mar 09 2026 / Mar 05 2026Duration / Termination: Until $2,772,000 deliveredReason: Bolster liquidity by monetizing future receiptsAgreement 3: NextNRG Terminates $2.0M Promissory Note After $1.75M Debt-for-Equity SettlementAgreement terminated: Promissory noteCounterparty: NoteholderOriginal agreement date: Jul 15 2025Termination date: Mar 11 2026Termination type: EarlyExit fees / payments: NoneReason: Note settled via stock purchase considerationOriginal SEC Filing: NEXTNRG, INC. [ NXXT ] - 8-K - Mar. 13, 2026DisclaimerThis is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.