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NextTrip (NTRP) takes control of TikTok partner YADA in share deal

Filing Impact
(Very High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

NextTrip, Inc. has acquired a controlling 51% stake in YADA Commerce Inc., a fully licensed TikTok Partner Agency and creator-commerce platform, through a Stock Purchase Agreement dated June 10, 2026. The founding shareholders received 50,000 restricted shares of NextTrip as consideration.

Concurrently, the parties entered into a three-year Cooperation and Earnout Agreement that can award up to 225,000 additional restricted shares and 225,000 warrants at an exercise price of $2.75, tied to NextTrip’s share of net profits from specified activities. YADA will remain operationally led by its founders, while NextTrip becomes YADA’s preferred travel provider and gains exclusive travel-related rights across YADA channels.

Positive

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Negative

  • None.

Insights

NextTrip adds a TikTok-focused creator-commerce platform using mostly equity-based consideration.

NextTrip acquired 51% of YADA Commerce Inc for 50,000 restricted shares and set up a three-year earnout pool of 225,000 shares and 225,000 warrants at $2.75. The structure aligns additional consideration with net profits from defined activities.

The deal gives NextTrip exclusive or priority roles in travel fulfillment, gift cards, and event bookings across YADA channels, while founders retain day-to-day operational control under board oversight. This keeps creator operations close to YADA’s team, with governance shared via a five-member board.

Management emphasizes strategic fit with its content-to-commerce travel vision, highlighting access to TikTok creators, fan travel programs, and experiential tourism. Actual financial impact will depend on YADA’s ability to convert creator engagement into profitable travel and commerce volumes over the three-year earnout term.

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 2.01 Completion of Acquisition or Disposition of Assets Financial
The company completed a significant acquisition or sale of business assets.
Item 3.02 Unregistered Sales of Equity Securities Securities
The company sold equity securities in a private placement or other unregistered transaction.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Stake acquired in YADA 51% of outstanding shares Controlling interest purchased on June 10, 2026
Initial share consideration 50,000 restricted shares Paid in NextTrip common stock to YADA founding shareholders
Earnout share pool 225,000 restricted shares Maximum additional equity under three-year Earnout Agreement
Earnout warrant pool 225,000 warrants Warrants with three-year term tied to net profits
Warrant exercise price $2.75 per share Exercise price for earnout warrants
Earnout term length Three years Term measured from June 10, 2026 Effective Date
Earnout conversion rate 1 share + 1 warrant per $2.75 Based on NextTrip’s share of aggregate net profits
Stock Purchase Agreement financial
"NextTrip, Inc. entered into a Stock Purchase Agreement with Yada Commerce Inc"
A stock purchase agreement is a legal contract that sets the terms for buying or selling shares, specifying the price, number of shares, how payment is made, and any conditions or promises each side must meet. It matters to investors because it defines who owns what, when ownership changes, and what protections or obligations attach to the deal—think of it as a detailed receipt plus the house rules that determine the financial risks and benefits of the transaction.
piggyback registration rights regulatory
"The Company granted to the Founding Shareholders piggyback registration rights subject to cut backs"
A contractual right that lets existing shareholders join a company’s planned public sale of stock so they can sell their own shares at the same time under the same paperwork. It matters to investors because it gives insiders and early holders an easier, often faster way to convert shares to cash, while also potentially increasing the number of shares offered and affecting the share price — like catching a scheduled bus instead of hiring a private ride to get where you need to go.
Cooperation and Earnout Agreement financial
"the Company entered into a Cooperation and Earnout Agreement (the “Earnout Agreement”) with Yada"
restricted securities regulatory
"Accordingly, the Company Shares constitute “restricted securities” within the meaning of Rule 144"
Restricted securities are shares or other investment instruments that come with legal or contractual limits on when and how they can be sold, like stock given to founders or bought in a private offering. Think of them as assets in a locked box that can’t be freely traded until certain conditions — such as a waiting period, company registration, or specific approvals — are met. For investors this matters because restricted securities are less liquid and can affect timing, price, and perceived value when they eventually enter the market.
TikTok Partner Agency technical
"YADA, a fully licensed TikTok Partner Agency and creator-commerce platform"
A TikTok Partner Agency is an outside marketing or media firm officially recognized by TikTok to buy ads, create content, measure performance, or provide technical support on the platform. Think of it like an authorized dealer for a popular brand: the agency gets special tools, training and direct help that can make campaigns run smoother and reach more people. Investors watch for these partnerships because they can boost a company’s ability to grow sales through TikTok and signal marketing credibility, but they also involve costs and reliance on a third party.
forward-looking statements regulatory
"This announcement contains certain forward-looking statements within the meaning of Section 27A"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
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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): June 12, 2026 (June 10, 2026)

 

NextTrip, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

Nevada   001-38015   27-1865814

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

3900 Paseo del Sol    
Santa Fe, New Mexico   87507
(Address of Principal Executive Offices)   (Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (505) 438-2576

 

 

(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:

 

 Title of each class

  Trading Symbol(s)  

 Name of each exchange on which registered

Common Stock, par value $0.001 per share   NTRP   The Nasdaq Stock Market LLC

 

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

 

Stock Purchase Agreement

 

On June 10, 2026 (the “Effective Date”), NextTrip, Inc. (the “Company”) entered into a Stock Purchase Agreement (the “Purchase Agreement”) with Yada Commerce Inc (“Yada”) and High Class Holdings LLC and Carbon Capital Corp, the shareholders of Yada (collectively, the “Founding Shareholders”) pursuant to which, subject to the terms and conditions set forth in the Purchase Agreement, the Company purchased from the Founding Shareholders 51% of the outstanding shares of Yada (the “Yada Shares”).

 

The aggregate consideration under the Purchase Agreement is 50,000 restricted shares of the Company (the “ Company Shares”). The Company granted to the Founding Shareholders piggyback registration rights subject to cut backs required under Rule 415 and at the request of investors, placement agents and underwriters. The Purchase Agreement contains customary representations and indeminifcation provisions. The Purchase Agreement also contains provisions regarding the post-closing governance of Yada including a provision requiring the parties to vote their shares of Yada to elect a five member board of directors, two of whom will be designated by the Founding Shareholers, two of whom will be designated by the Company, with the fifth member to be appointed by the board of directors. The Purchase Agreement also provides for a first right of refusal in favor of the Company regarding any future sale by the Founding Shareholders of their shares in Yada.

 

Cooperation and Earnout Agreement.

 

Concurrently with the entering into of the Purchase Agreement, the Company entered into a Cooperation and Earnout Agreement (the “Earnout Agreement”) with Yada regarding the post-closing operations of Yada, the role of the Company, and the compensation arrangement for the Founding Shareholders. The Earnout Agreement has a three-year term from the Effective Date (the “Term”). Under the Earnout Agreement, the Parties acknowledge that, nothwithstanding the Company’s controlling interest in Yada, the Founding Shareholders will retain full operational control over Yada’s day-to-day business affairs, subject to the oversight of Yada’s board of directors, and the rights, duties and obligations of Yada’s officers, directors and shareholders under Yada’s organizational documents and applicable law. The Earnout Agreement grants to the Company certain roles including serving as Yada’s exclusive preferred travel provider, the first right of refusal to match any bona fide third-party proposal with respect to travel service offered through Yada channels, the processing by the Company of travel bookings generated through Yada channels, the exclusive right to offer travel gift cards through Yada channels, and the exclusive booking rights for music artist promotional events. The Earnout Agreement also sets forth the sharing of Net Profits between the Company and the Founding Shareholders from activities enumerated in the Earnout Agreement. The Earnout Agreement further provides as inducement compensation for the Founding Shareholders the establishment of an earnout pool consisting of an aggregate of 225,000 restricted shares of the Company’s common stock and warrants to purchase up to 225,000 common shares with a three-year term at an exercise price of $2.75 to be awarded over the Term pursuant to the terms of the Earnout Agreement on the basis of one share of Company common stock and one warrant for each $2.75 of the Company’s share of the aggregate net profits generated from the activities described in the Earnout Agreement.

 

The foregoing descriptions of the Purchase Agreement and the Earnout Agreement are not complete and are subject to and qualified in their entirety by reference to the Purchase Agreement and Earnout Agreement, copies of which are filed as Exhibits 10.1 and 10.2 to this Current report on Form 8-K and are incorporated by reference

 

2

 

 

Item 2.01 Completion of Acquisition or Disposition of Assets

 

The purchase of the Yada Shares closed on June 10, 2026. The information included in Item 1.01 above is incorporated by reference into this Item 2.01

 

Item 3.02 Unregistered Sales of Equity Securities.

 

The information in Item 1.01 regarding the issuance of the Company Shares is hereby incorporated herein by reference.

 

The Company Shares have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws, and were issued to the Founding Shareholders in a transaction exempt from registration under the Securities Act in reliance upon the exemption from registration provided by Section 4(a)(2) under the Securities Act and/or Regulation D promulgated thereunder. Accordingly, the Company Shares constitute “restricted securities” within the meaning of Rule 144 under the Act.

 

Item 7.01 Registration FD Disclosure

 

On June 11, 2026, the Company issued a press release announcing the closing of the Purchase Agreement. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit

Number

  Description

10.1

 

Stock Purchase Agreement

10.2   Cooperation and Earnout Agreement
99.1   Press Release
104   Cover Page Interactive Data File (embedded within the inline XBRL Document)

 

3

 

 

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.

 

    NEXTTRIP, INC.
       
Date: June 12, 2026 By: /s/ William Kerby
    Name:

William Kerby

    Title: Chief Executive Officer

 

4

 

 

EXHIBIT 99.1

 

NextTrip Acquires Controlling Interest in Fully Licensed TikTok Partner Agency YADA, Accelerating Vision to Build a Global Creator, Entertainment and Travel Commerce Ecosystem

 

Acquisition expands NextTrip’s content-to-commerce platform through creator communities, entertainment experiences, audience acquisition, travel commerce, and media monetization opportunities

 

SANTA FE, NM / ACCESS Newswire / June 11, 2026 / NextTrip, Inc. (NASDAQ:NTRP) (“NextTrip,” “the Company,” “we,” “our,” or “us”), a technology-forward travel and media company defining the intersection of media and travel, today announced that it has acquired a controlling interest in YADA Commerce Inc (“YADA”), a fully licensed TikTok Partner Agency and creator-commerce platform focused on influencer engagement, audience development, digital commerce, and music artist promotional events.

 

Highlights of the Transaction

 

Adds a Fully Licensed TikTok Partner Agency providing access to creator recruitment, audience development, affiliate commerce, livestream commerce, and creator monetization capabilities.

 

Expands NextTrip’s Audience Acquisition Engine through access to thousands of creators and billions of aggregate followers across social media platforms.

 

Launches NextTrip’s Destination Entertainment & Creator Commerce with 4 destination music events already committed featuring exclusive artist partnerships, fan experiences, concert travel programs, and creator-led commerce initiatives.

 

Creates New Revenue Opportunities for our media platform to drive additional advertising, sponsorships, travel bookings, experiential travel, memberships, gift cards, loyalty programs, and creator commerce.

 

Through YADA, the Company gains a strategic creator-commerce platform capable of driving audience acquisition, creator engagement, entertainment experiences, and travel transactions across the broader NextTrip ecosystem. NextTrip believes the acquisition represents significantly more than a traditional social media marketing initiative and includes access to pre-booked group travel programs involving several artists for exclusive concert experiences for super fans in unique destinations and premium resort venues.

 

Under the agreement, NextTrip will serve as the travel fulfillment partner for YADA’s music artist promotional events and related fan experiences. The Company expects to leverage its group travel capabilities through TA Pipeline, luxury travel offerings through Five Star Alliance, concierge travel services, and proprietary travel inventory available through the NXT2.0 platform to support future event-related travel programs.

 

 

 

 

Unlike traditional marketing agencies, YADA operates as creator-commerce infrastructure, providing creator recruitment, onboarding, training, activation, monetization, affiliate management, audience development, and livestream commerce capabilities. These capabilities create a scalable foundation for customer acquisition, audience engagement, and commerce that can be leveraged across NextTrip’s travel, media, membership, loyalty, entertainment, and experiential businesses while enabling direct access to highly engaged consumer audiences across travel, lifestyle, entertainment, and commerce categories.

 

Management believes the combination of creator reach, travel expertise, and operational infrastructure creates a unique opportunity to connect audience engagement directly to travel bookings, loyalty programs, destination marketing initiatives, experiential travel products, memberships, gift card programs, and advertising opportunities.

 

Industry estimates project TikTok Shop gross merchandise volume to exceed $100 billion globally in 2026, supported by an ecosystem of more than 15 million active creators and over 100,000 affiliate participants. Through YADA’s strategic creator relationships, creator agency partnerships, affiliate networks, and its relationship with Get Engaged, NextTrip gains access to a creator ecosystem spanning thousands of creators with a combined audience reach measured in the billions.

 

As part of the transaction, Chad Doher, Founder of YADA Commerce Inc and a veteran entrepreneur, entertainment executive, producer, travel industry veteran, and marketing strategist with decades of experience building media, creator, entertainment, hospitality, travel, and consumer-facing businesses, has joined NextTrip as Executive Vice President of Entertainment. Throughout his career, Doher has built and scaled companies across media, entertainment, commerce, hospitality, and travel while producing and marketing projects involving globally recognized brands, talent, and consumer audiences.

 

Mr. Doher will lead the newly expanded NextTrip Entertainment & Creator Commerce division, overseeing creator partnerships, influencer marketing, music artist promotions, fan engagement initiatives, experiential travel programs, branded entertainment opportunities, and creator-commerce initiatives across the Company’s growing portfolio.

 

The future belongs to companies that can own attention, community, and commerce simultaneously,” said Chad Doher, Founder of YADA Commerce Inc and Executive Vice President of Entertainment for NextTrip. “NextTrip has already assembled an extraordinary collection of travel, media, technology, and distribution assets. By combining creators, entertainment, fan engagement, experiential travel, commerce, and media under a single platform, we have the opportunity to build a category-defining company that connects inspiration directly to transaction on a global scale.”

 

 

 

 

Importantly, we are not starting from zero,” continued Doher. “YADA has already secured several artists for exclusive concert experiences and intimate fan events in unique destinations and premium venues designed specifically for super fans. These experiences create a powerful opportunity to combine entertainment, travel, and community engagement. Through NextTrip’s group travel, concierge services, luxury travel capabilities, and booking infrastructure, we expect to deliver complete fan travel packages that include accommodations, transportation, VIP experiences, and exclusive access. Based on current planning, we believe these initial event programs alone could each generate more than 250 fan travel packages while establishing a scalable model for future artist partnerships and destination-based entertainment experiences.”

 

NextTrip believes the creator economy represents one of the largest shifts in consumer acquisition since the emergence of search and social media. As travelers increasingly discover destinations, hotels, cruises, events, restaurants, and experiences through creator recommendations and video content, content has become the starting point of the travel purchasing journey. Through YADA’s creator network and TikTok Partner Agency infrastructure, NextTrip gains direct access to one of the fastest-growing channels for travel inspiration, consumer engagement, and booking conversion.

 

By combining JOURNY’s global television distribution, Travel Magazine’s digital reach, NextTrip’s booking infrastructure, and YADA’s creator ecosystem, the Company believes it can create a uniquely differentiated content-to-commerce platform capable of reaching consumers across television, digital media, social media, influencer networks, and transactional travel channels.

 

We are building significantly more than a travel company,” said Bill Kerby, Co-Founder and Chief Executive Officer of NextTrip. “Our vision is to create a vertically integrated platform where content inspires discovery, creators drive engagement, communities build loyalty, and commerce converts attention into transactions. YADA strengthens every layer of that strategy while expanding our reach into the rapidly growing creator economy and entertainment sectors.”

 

Management believes this combination creates a powerful content-to-commerce flywheel in which creators generate content, content drives audience engagement, engagement generates travel interest, and travel interest converts into bookings, memberships, loyalty participation, advertising revenue, and recurring customer relationships throughout the NextTrip ecosystem.

 

 

 

 

Perhaps most importantly, YADA becomes a powerful audience acquisition engine feeding consumers into the broader NextTrip ecosystem, including JOURNY, Travel Magazine, Travel Magazine Pro™, Five Star Alliance, TA Pipeline, travel memberships, gift card programs, and the Company’s proprietary NXT2.0 booking platform.

 

The YADA acquisition not only expands our long-term creator-commerce opportunity, but also provides a pipeline of near-term experiential travel programs and fan engagement initiatives that align perfectly with our content-to-commerce strategy,” added Kerby. “We believe YADA strengthens our position as one of the few companies capable of combining media, creators, entertainment, commerce, and travel within a single platform. By owning both audience acquisition and transaction infrastructure, we believe NextTrip is uniquely positioned to create long-term shareholder value while participating in some of the fastest-growing sectors of the digital economy. This transaction further advances our strategy of connecting inspiration directly to transaction while creating multiple revenue opportunities across travel, media, entertainment, advertising, memberships, and creator commerce.”

 

The Company believes entertainment-driven travel represents one of the fastest-growing categories within experiential tourism and expects to develop new offerings spanning music events, fan travel packages, creator retreats, destination festivals, branded experiences, celebrity-hosted trips, cruises, premium VIP programs, and creator-led commerce initiatives.

 

Transaction terms were negotiated at arm’s length and reflect the strategic value of YADA’s creator-commerce platform, entertainment relationships, and travel industry infrastructure. Additional details regarding the acquisition, including consideration paid and other material terms, will be disclosed in a subsequent Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission.

 

About YADA Commerce Inc

 

YADA Commerce Inc. is a fully licensed TikTok Partner Agency focused on creator engagement, influencer marketing, digital commerce, audience development, and music artist promotional events. The company works with creators, brands, artists, and entertainment partners to develop audience engagement programs and consumer experiences across digital and social media channels.

 

About NextTrip

 

NextTrip, Inc. (NASDAQ:NTRP) is a technology-forward travel and media company defining the intersection of media and travel. Through its owned media platforms, including JOURNY.tv and TravelMagazine.com, and its proprietary travel technology stack, NextTrip delivers an integrated inspiration-to-booking ecosystem that connects travel discovery directly to transaction and fulfillment. The Company operates a portfolio of travel brands and platforms, including Five Star Alliance, a global luxury hotel and resort booking platform; NXT2.0, its proprietary booking and payments engine; and TA Pipeline, a purpose-built group travel and meetings booking platform serving travel advisors, suppliers, and destination partners. Together, these assets enable frictionless booking across luxury FIT (Flexible Independent Travel), group travel, destination weddings, conferences, and concierge-managed experiences, supported by flexible payment options such as PayDlay. By owning both the inspiration layer through premium video-led storytelling and the transaction layer through integrated booking technology, NextTrip enables travelers to move seamlessly from discovery to booking, while providing destinations, brands, and travel partners with measurable engagement, demand generation, and conversion opportunities.

 

For more information, visit www.nexttrip.com and investors.nexttrip.com.

 

 

 

 

Forward-Looking Statement Disclaimer

 

This announcement contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. For example, statements regarding the Company’s financial position, business strategy and other plans and objectives for future operations, and assumptions and predictions about future activities are all forward-looking statements. These statements are generally accompanied by words such as “intend,” anticipate,” “believe,” “estimate,” “potential(ly),” “continue,” “forecast,” “predict,” “plan,” “may,” “will,” “could,” “would,” “should,” “expect” or the negative of such terms or other comparable terminology.

 

The Company believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, based on information available to it on the date hereof, but the Company cannot provide assurances that these assumptions and expectations will prove to have been correct or that the Company will take any action that the Company may presently be planning. However, these forward-looking statements are inherently subject to known and unknown risks and uncertainties. Actual results or experience may differ materially from those expected or anticipated in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, regulatory policies, available cash resources, competition from other similar businesses, and market and general economic factors.

 

Readers are urged to read the risk factors set forth in the Company’s filings with the United States Securities and Exchange Commission at www.sec.gov. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

 

Contacts

 

NextTrip, Inc

Richard Marshall

Director of Corporate Development

Richard.Marshall@nextTrip.com

 

 

 

FAQ

What did NextTrip (NTRP) acquire in the YADA transaction?

NextTrip acquired a controlling 51% stake in YADA Commerce Inc. The deal gives NextTrip access to a TikTok-focused creator-commerce platform centered on influencer engagement, audience development, and music artist promotional events, supporting its broader content-to-commerce travel ecosystem strategy.

How is the YADA acquisition structured for NextTrip (NTRP)?

NextTrip purchased 51% of YADA’s outstanding shares from the founding shareholders for 50,000 restricted NextTrip shares. The transaction was documented in a Stock Purchase Agreement containing customary representations, indemnification provisions, post-closing governance terms, and a first right of refusal on future YADA share sales.

What are the key terms of NextTrip’s Earnout Agreement with YADA?

The three-year Earnout Agreement creates a pool of 225,000 restricted NextTrip shares and 225,000 warrants at $2.75. Awards are based on one share and one warrant for each $2.75 of NextTrip’s share of aggregate net profits from specified activities outlined in the agreement.

How will control and operations be shared between NextTrip and YADA’s founders?

Although NextTrip holds a controlling interest, YADA’s founding shareholders retain full operational control over day-to-day business, subject to board oversight. A five-member board will include two directors designated by the founders, two by NextTrip, and a fifth appointed by the board itself.

What strategic benefits does NextTrip expect from the YADA acquisition?

NextTrip believes YADA strengthens its content-to-commerce platform by linking creator reach and TikTok-focused infrastructure with travel fulfillment. The company highlights opportunities in fan travel packages, entertainment-driven tourism, creator-led commerce, and audience acquisition feeding its broader travel and media brands.

How were the shares issued in the YADA deal treated under U.S. securities laws?

The 50,000 restricted NextTrip shares issued to YADA’s founding shareholders were not registered under the Securities Act of 1933. They were issued in a private transaction relying on Section 4(a)(2) and/or Regulation D exemptions and are deemed “restricted securities” under Rule 144.

Filing Exhibits & Attachments

6 documents