NEXTNRG, INC. Form 8-K Filing

On March 11, 2026, NEXTNRG, INC. entered into a Stock Purchase Agreement with a Noteholder to sell 3,181,818 shares of common stock at $0.55 per share, totaling $1,750,000. This transaction effectively settled a $2,000,000 promissory note previously issued to the Noteholder, with the Noteholder absolving the Company of its liability as payment. The agreement includes standard representations and warranties. Concurrently, on March 9, 2026, the Company entered into a Future Receivables Sale and Purchase Agreement with a third-party funder. Under this agreement, the Company will sell 6.87% of its future receipts until $2,772,000 is collected by the funder. In exchange, the funder provided $2,100,000, less $105,035 in fees. The Company will make daily fixed payments approximating the 6.87% share of future receipts. The agreement also involves a first priority lien on the Company's accounts and inventory as security. Michael D. Farkas, the CEO, has personally guaranteed the Company's obligations under this receivables agreement. The promissory note was terminated on March 11, 2026, due to the stock purchase agreement settling the outstanding liability.