Nu Ride (NRDE) extends $7.6M in high-yield, secured billboard loans

Rhea-AI Filing Summary

Nu Ride Inc. reported that it has become a lender in two billboard financing transactions in Florida. On January 23, 2026, the company entered into a Loan and Security Agreement with Foxpoint Florida II, LLC and other lenders, under which it loaned $5.5 million of total loan proceeds of $7.5 million to fund the acquisition of billboard leasehold assets, including structures and permits. The loan bears interest at 15% per annum, payable monthly in cash, is secured by a first-priority lien on substantially all of the borrower’s assets and a pledge of all equity interests in the borrower, and matures with full principal and accrued interest due on January 23, 2029.

Nu Ride will also receive equity interests in the borrower representing about 29.3% of aggregate equity interests issued to it (out of 40% issued to all lenders), with this equity stake potentially reduced to 30% if the loan is repaid in full on or before the second anniversary of closing and to 20% if repaid in full on or before the first anniversary. Separately, on December 30, 2025, Nu Ride entered into a Funding Agreement and Secured Promissory Note with Foxpoint Florida, LLC, providing a $2.125 million loan on substantially similar collateral and terms, including 40% of that borrower’s equity interests, also subject to potential reduction upon prepayment.

Insights

Credit and structured finance analyst

Nu Ride is deploying capital into high-yield, secured billboard loans with equity kickers, adding credit and asset exposure.

Nu Ride Inc. is committing $5.5 million to Foxpoint Florida II, LLC as part of a $7.5 million loan and an additional $2.125 million to Foxpoint Florida, LLC. Both loans fund acquisitions of billboard leasehold assets in Florida and carry a stated interest rate of 15% per annum, payable monthly in cash, with the larger loan maturing on January 23, 2029. Each loan is secured by liens on substantially all borrower assets and by pledges of equity interests, which strengthens Nu Ride’s position in downside scenarios based on the disclosed structure.

Beyond interest income, Nu Ride receives equity interests: approximately 29.3% of Foxpoint Florida II’s aggregate equity interests issued to it (within 40% allocated to all lenders) and 40% of Foxpoint Florida, LLC’s equity interests. These equity positions are subject to step-downs if the loans are prepaid on or before the first or second anniversaries, so actual long-term participation depends on how quickly borrowers repay. Future company filings can clarify how cash flows and any changes in equity percentages develop over the life of these arrangements.

8-K Event Classification

2 items: 1.01, 8.01

2 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Understanding 8-K Material Events →

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): January 23, 2026

NU RIDE INC.

(Exact name of registrant as specified in its charter)

Delaware		001-38821		83-2533239
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

1700 Broadway, 19th Floor

New York, New York 10019

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (212) 202-2200

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On January 23, 2026, Nu Ride Inc. (the “Company”) entered into a Loan and Security Agreement with Foxpoint Florida II, LLC (“Borrower”) and certain other lenders party thereto (the “LSA”), pursuant to which the Company loaned Borrower $5.5 million (out of aggregate loan proceeds of $7.5 million) to finance the acquisition by Borrower of certain billboard leasehold assets, including structures and permits, in Florida (the “Loan”). The Loan is secured by a first priority lien on substantially all the assets of Borrower, as well as a pledge of all equity interests in Borrower held by its owner, and bears interest at 15% per annum, payable monthly in cash, with payment in full of principal and accrued interest on January 23, 2029, and contains representations and warranties, covenants, events of default and conditions customary for loans of this type. Additionally, the Company will receive equity interests in Borrower representing approximately 29.3% of the aggregate equity interests (out of aggregate equity interests issued to Lenders representing 40%), subject to reduction to an aggregate of 30% if the Loan is repaid in full on or prior to the second anniversary of closing, and 20% if the Loan is repaid in full on or prior to the first anniversary of closing.

Item 8.01 Other Events.

On December 30, 2025, the Company entered into a Funding Agreement and Secured Promissory Note with Foxpoint Florida, LLC (“FP I”, and such documents, the “Loan Documents”), pursuant to which the Company loaned FP I $2.125 million to finance the acquisition by FP I of certain billboard leasehold assets in Florida (the “FP I Loan”). The FP I Loan is secured by substantially the same type of collateral and has substantially the same terms as the Loan described in Item 1.01 above, including 40% of the equity interests in FP I, subject to potential reduction upon prepayment of the FP I Loan as described above.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	NU RIDE INC.
	By:	/s/ Alexander Matina
	Name:	Alexander Matina
Date: January 23, 2026	Title:	Chief Executive Officer

FAQ

What transaction did Nu Ride Inc. (NRDE) disclose in this 8-K?

Nu Ride Inc. disclosed that on January 23, 2026, it entered into a Loan and Security Agreement with Foxpoint Florida II, LLC and other lenders, under which it loaned $5.5 million as part of aggregate loan proceeds of $7.5 million to finance the acquisition of billboard leasehold assets in Florida.

What are the key terms of Nu Ride Inc.’s new $5.5 million loan?

The $5.5 million loan to Foxpoint Florida II, LLC bears interest at 15% per annum, payable monthly in cash, is secured by a first priority lien on substantially all borrower assets and a pledge of all equity interests in the borrower, and requires full payment of principal and accrued interest on January 23, 2029.

What equity stake does Nu Ride Inc. receive in Foxpoint Florida II, LLC?

Nu Ride Inc. will receive equity interests in Foxpoint Florida II, LLC representing approximately 29.3% of the aggregate equity interests issued to it, out of 40% of equity interests issued to all lenders, with this percentage potentially reduced to 30% or 20% if the loan is fully repaid by the second or first anniversary of closing, respectively.

What is the separate $2.125 million FP I Loan mentioned for Nu Ride Inc. (NRDE)?

On December 30, 2025, Nu Ride Inc. entered into a Funding Agreement and Secured Promissory Note with Foxpoint Florida, LLC, under which it loaned $2.125 million to finance the acquisition of billboard leasehold assets in Florida, referred to as the FP I Loan.

How do the FP I Loan terms compare to the newer Nu Ride billboard loan?

The FP I Loan is described as having substantially the same type of collateral and substantially the same terms as the newer Loan, including a security interest in borrower assets and 40% of the equity interests in Foxpoint Florida, LLC, which may be reduced if the FP I Loan is prepaid as described.

What assets are being financed by Nu Ride Inc.’s loans to the Foxpoint entities?

Both Nu Ride loans are intended to finance the acquisition of billboard leasehold assets in Florida, which include billboard structures and permits in the case of Foxpoint Florida II, LLC.