NextNRG enters $1,000,000 cash advance deal

NextNRG Inc. entered a Standard Merchant Cash Advance Agreement with Avanza Capital Holdings, LLC, selling $1,499,900 of future receivables for a $1,000,000 purchase price.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

NextNRG Inc. entered a Standard Merchant Cash Advance Agreement with Avanza Capital Holdings, LLC, selling $1,499,900 of future receivables for a $1,000,000 purchase price. After a $60,000 underwriting and program fee, the Company received $940,000 in net funds.

NextNRG will remit 25% of its daily settlements and receivables, with an initial estimated $62,496 collected by weekly ACH and a monthly collection cap of $268,732, subject to conditions. The obligations are secured by a first priority security interest over substantially all assets. On an Event of Default, Avanza can accelerate the full uncollected amount and charge 25% of the unpaid balance as liquidated damages. CEO Michael D. Farkas personally guaranteed the Company’s performance under the agreement.

Insights

NextNRG raises $940,000 via a secured merchant cash advance with stringent default remedies.

NextNRG monetizes $1,499,900 of future receivables for a $1,000,000 purchase price, receiving $940,000 after a $60,000 fee. Repayment is tied to operating activity, using 25% of daily settlements with an estimated $62,496 weekly ACH debit and a $268,732 monthly cap.

The arrangement is secured by a first priority security interest over broadly defined collateral, including accounts, inventory and equipment. Default remedies let Avanza accelerate the remaining Receivables Purchased Amount and claim 25% of the unpaid balance as liquidated damages, which increases downside if cash flows weaken.

CEO Michael D. Farkas personally guarantees performance of the Company’s obligations, aligning leadership with compliance under the agreement but also signaling that the lender sought additional assurance. Subsequent disclosures could clarify how this repayment profile interacts with NextNRG’s ongoing liquidity and growth plans.

8-K Event Classification

2 items: 1.01, 9.01

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 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Receivables Purchased Amount: $1,499,900 Purchase price: $1,000,000 Net funds to company: $940,000 +5 more

8 metrics

Receivables Purchased Amount $1,499,900 Future receivables sold to Avanza under the MCA

Purchase price $1,000,000 Amount Avanza pays for the Receivables Purchased Amount

Net funds to company $940,000 Cash received after a $60,000 underwriting and program fee

Underwriting and program fee $60,000 Deducted from the $1,000,000 purchase price at closing

Daily settlements share 25% Portion of daily settlements and receivables remitted to Avanza

Estimated periodic payment $62,496 Initial weekly ACH debit every Tuesday under the MCA

Monthly collection cap $268,732 Maximum monthly amount collected toward the Receivables Purchased Amount

Liquidated damages rate 25% Portion of unpaid balance recoverable as liquidated damages on default

Key Terms

Standard Merchant Cash Advance Agreement, Receivables Purchased Amount, security interest, Event of Default, +2 more

6 terms

Standard Merchant Cash Advance Agreement financial

"entered into a Standard Merchant Cash Advance Agreement (the "Avanza MCA") with Avanza Capital Holdings, LLC"

Receivables Purchased Amount financial

"the Receivables Purchased Amount) for a purchase price of $1,000,000"

security interest financial

"secured by a first priority security interest in all of the Company’s present and future accounts"

A security interest is a legal claim a lender or creditor holds on a borrower's asset as collateral to secure repayment; if the borrower fails to pay, the creditor can seize or sell that asset to recover money owed. Think of it like a pawnshop tag on an item that gives the pawnbroker the right to sell it if the loan isn't repaid. For investors, security interests matter because they change how safely lenders and bondholders can recover funds and affect the hierarchy of claims if a company faces financial trouble.

Event of Default financial

"Upon the occurrence of an Event of Default (as defined in the Avanza MCA), Avanza may invoke specified protections"

An event of default is a specific breach of a loan or bond agreement—such as missed payments or breaking agreed rules—that gives lenders the legal right to act, for example by demanding immediate repayment, seizing collateral, or accelerating other obligations. For investors, it’s a red flag because it can sharply reduce a company’s ability to operate or raise money, like a car lender repossessing a vehicle after missed payments, and often leads to falling share or bond prices.

liquidated damages financial

"electing to recover 25% of the unpaid balance as liquidated damages for collection expenses"

A pre-agreed sum that one party must pay if it breaks a contract, chosen so both sides avoid arguing over the exact amount of loss later. Think of it like a fixed cancellation fee for a reservation: it makes potential costs predictable. For investors, liquidated damages matter because they create a known financial liability that can affect cash flow, contract risk, balance-sheet exposure and deal valuations.

automated clearing house ("ACH") debit financial

"to be collected via automated clearing house ("ACH") debit from a designated depository account"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What financing agreement did NextNRG (NXXT) enter with Avanza Capital?

NextNRG entered a Standard Merchant Cash Advance Agreement with Avanza Capital Holdings, LLC. The company sold $1,499,900 of future receivables for a $1,000,000 purchase price, receiving $940,000 in net funds after a $60,000 underwriting and program fee.

How much cash does NextNRG (NXXT) receive under the Avanza merchant cash advance?

NextNRG receives $940,000 in net funding from Avanza. This comes from a $1,000,000 purchase price for $1,499,900 of future receivables, reduced by a $60,000 underwriting and program fee taken at closing under the merchant cash advance agreement.

How will NextNRG (NXXT) repay the Avanza Receivables Purchased Amount?

NextNRG must remit 25% of its daily settlements and receivables to Avanza until $1,499,900 is delivered in full. The agreement sets an initial estimated weekly ACH debit of $62,496 every Tuesday and caps monthly collections at $268,732, subject to conditions and default exclusions.

What collateral secures NextNRG’s merchant cash advance with Avanza?

The obligations are secured by a first priority security interest in essentially all of NextNRG’s assets. This includes present and future accounts, deposit accounts, accounts receivable, chattel paper, documents, equipment, general intangibles, instruments, inventory, and all related proceeds granted as collateral.

What happens if NextNRG (NXXT) defaults under the Avanza MCA?

If an Event of Default occurs, Avanza may declare the full uncollected Receivables Purchased Amount plus all fees immediately due. It can enforce its security interest and recover 25% of the unpaid balance as liquidated damages for collection expenses, increasing default costs materially.

Did NextNRG’s CEO provide any guarantee in the Avanza cash advance deal?

Yes. Michael D. Farkas, NextNRG’s Chief Executive Officer, Chairman and a significant stockholder, personally guaranteed the full and prompt performance of all representations, warranties and covenants the company made in the Avanza Merchant Cash Advance Agreement, providing additional assurance to the lender.

Can NextNRG (NXXT) prepay the Avanza Receivables Purchased Amount early?

NextNRG may prepay the outstanding balance of the Receivables Purchased Amount at any time without penalty. This flexibility allows the company to reduce ongoing remittances if it has sufficient liquidity later, potentially shortening the duration of the merchant cash advance obligation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/07/2026 - 04:45 PM

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 30, 2026

NEXTNRG, INC.

(Exact name of registrant as specified in its charter)

Delaware

001-40809

83-4260623

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

407 Lincoln Rd. #9F, Miami Beach, Florida 33139

(Address of principal executive offices, including Zip Code)

(305) 791-1169

(Registrant’s telephone number, including area code)

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 240.13a-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, $0.0001 par value per share		NXXT		Nasdaq Capital Market

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 June 30, 2026, NextNRG Inc. (the “Company”) entered into a Standard Merchant Cash Advance Agreement (the “Avanza MCA”) with Avanza Capital Holdings, LLC (“Avanza”). Pursuant to the terms of the Avanza MCA, the Company sold to Avanza $1,499,900 of the Company’s future accounts, contract rights, and other obligations arising from or relating to the payment of monies from the Company’s customers (the “Receivables Purchased Amount”) for a purchase price of $1,000,000. The net funds provided to the Company totaled $940,000, following the deduction of an underwriting and program fee of $60,000.

As consideration, the Company is required to remit to Avanza a specified percentage of 25% of the Company’s daily settlements and receivables until the Receivables Purchased Amount is delivered in full. The Avanza MCA establishes an initial estimated periodic payment of $62,496 to be collected via automated clearing house (“ACH”) debit from a designated depository account every Tuesday, subject to reconciliation protocols based on the Company’s actual volume of receipts. The total amount collected by Avanza toward the Receivables Purchased Amount during any specific month is capped at $268,732, subject to certain conditions and default exclusions. The Company may prepay the outstanding balance of the Receivables Purchased Amount at any time without penalty.

The Company’s obligations under the Avanza MCA are secured by a first priority security interest in all of the Company’s present and future accounts, deposit accounts, accounts receivable, chattel paper, documents, equipment, general intangibles, instruments, inventory, and all proceeds thereof.

The Avanza MCA contains customary representations, warranties, covenants, and events of default. Upon the occurrence of an Event of Default (as defined in the Avanza MCA), Avanza may invoke specified protections, including declaring the full uncollected Receivables Purchased Amount plus all fees immediately due and payable, enforcing its security interest in the collateral, and electing to recover 25% of the unpaid balance as liquidated damages for collection expenses.

In connection with entry into the Avanza MCA, Michael D. Farkas, the Company’s Chief Executive Officer, Chairman of the Board of Directors and a significant stockholder of the Company, personally guaranteed the full and prompt performance of all representations, warranties, and covenants made by the Company under the Avanza MCA.

The foregoing description of the Avanza MCA does not purport to be complete and is qualified in its entirety by reference to the full text of the Avanza MCA, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
10.1		Standard Merchant Cash Advance Agreement, dated as of June 30, 2026 by and between the registrant and Avanza Capital Holdings, LLC.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

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

	NextNRG, Inc.

Date: July 7, 2026	By:	/s/ Michael D. Farkas
	Name:	Michael D. Farkas
	Title:	Chief Executive Officer

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

6 documents

Agreements & Contracts

EX-10.1 EX-10.1 266.0 KB

NextNRG enters $1,000,000 cash advance deal

Rhea-AI Filing Summary

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