Financing ·
NextBoat Inc. secures $5M revolving credit line with $2M initial advance and issues warrant for 100k shares
NXBNextBoat Inc.
NextBoat Inc.'s subsidiary, Off The Hook Yacht Sales NC, LLC, entered into a $5.0 million revolving credit agreement with RLLT Capital, LLC on October 23, 2026. An initial advance of $2.0 million was funded on October 22, 2026, bearing interest at 12.99% per annum and maturing on October 22, 2027. The Company guaranteed the obligations, which are secured by a pledge of 7,874,000 shares held by controlling stockholders Jason Ruegg and Ruegg Capital Group Inc., representing approximately 31.3% of outstanding common stock. Additionally, NextBoat issued a warrant to purchase 100,000 shares at $2.50 per share as consideration for the commitment. The proceeds support working capital and inventory purchases for pre-owned boats. NextBoat operates a technology-driven marine marketplace for buying, selling, and servicing boats across the United States.