Financing ·
NextNRG amends $27.2M preferred stock deal for redomestication and adjusts terms after 1-for-10 reverse split
NXXTNextnrg, Inc.
NextNRG amended its Securities Purchase Agreement with an institutional investor to accommodate a planned redomestication from Delaware to Nevada and adjust financial terms following a 1-for-10 reverse stock split effective September 14, 2026. The amendment modifies conditions for the remaining $18 million of the $27.2 million Series C Preferred Stock issuance, requiring the common stock VWAP to exceed specific thresholds before additional shares can be issued. It also updates dividend payment options and introduces trigger events that increase the preferred stock's stated value by 25% plus monthly accruals. Separately, Nasdaq notified NextNRG of its intent to delist the company due to non-compliance with listing standards; the company has appealed this decision, with a hearing scheduled for October 22, 2026. The appeal stays any suspension pending the panel's final decision. NextNRG operates in the renewable energy sector.