NEXTNRG, INC. - Form 8-K Filing

On April 27, 2026, NextNRG, Inc. entered into a Business Loan and Security Agreement with Venture Debt, LLC, securing a loan of $1,000,000. The company received net proceeds of $930,000 after a $70,000 origination fee. The loan has a total repayment obligation of $1,450,000, with 24 weekly payments of $60,417, maturing on October 13, 2026. The annual percentage rate is approximately 203.17%. The agreement includes covenants restricting further indebtedness, with a penalty of $145,000 for violations, and has several default triggers, including tax liens, judgments, material changes in ownership, and adverse business conditions. The loan is secured by all assets of the company and its CEO, Michael D. Farkas, who also personally guaranteed the obligations. The filing incorporates by reference the creation of a direct financial obligation under Item 2.03.