Financing ·
NextBoat Inc. entered into a Loan Agreement with Greentree Financial Group, Inc., issuing a $510,000 principal 10%…
NXBNextBoat Inc.
NextBoat Inc. entered into a Loan Agreement with Greentree Financial Group, Inc., issuing a $510,000 principal 10% Convertible Promissory Note maturing August 14, 2028. Net proceeds were approximately $459,000 after a 10% original issuance discount and legal fees. The note accrues interest at 10% per annum, payable quarterly starting October 10, 2026, with an 18% default rate. It is convertible into common stock at $1.785 per share, subject to six-month reset provisions if the closing bid price falls lower. The company also issued a warrant for 100,000 shares at $1.785 and 20,000 restricted commitment shares. NextBoat Inc. operates in the marine technology sector, providing boat sharing and rental services.