UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C., 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into Material Definitive Agreement
On June 20, 2025, NextNRG, Inc. (the “Company”), entered into a Stock Purchase Agreement (the “Stock Purchase Agreement”) with Agile Capital Funding LLC (the “Buyer”), pursuant to which the Company has agreed to issue and sell to the Buyer, and the Buyer has agreed to purchase from the Company, 256,667 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), having an aggregate purchase price of approximately $770,000, subject to the terms and conditions of the Stock Purchase Agreement. The purchase price per Share is $3.00. The Company will file a prospectus supplement to its registration statement on Form S-3 (File No. 333-268960) offering the Shares.
Under the Stock Purchase Agreement, in lieu of paying in cash for the Shares, the Buyer will be absolving Next NRG LLC (“Next NRG”) of its liability of $770,000 (the “Next NRG Liabilities”). Next NRG is a wholly owned subsidiary of NextNRG Holding Corp., which is a wholly owned subsidiary of the Company, and Next NRG owes the Next NRG Liabilities to the Buyer pursuant to the Agreement for the Purchase and Sale of Future Receivables entered into between Next NRG and the Buyer on December 16, 2024. As a result, the Company will not receive any cash proceeds on closing.
The foregoing description of the Stock Purchase Agreement is not complete and is qualified in its entirety by reference to the full text of such agreement, a copy of which is filed herewith as Exhibit 10.1 and is incorporated herein by reference. The opinion of Sichenzia Ross Ference Carmel LLP, the Company’s counsel, regarding the legality of the Shares that may be issued pursuant to the Stock Purchase Agreement is also filed herewith as Exhibit 5.1.
This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy the Shares discussed herein, nor shall there be any offer, solicitation, or sale of the Shares in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
Description | |
5.1 | Opinion of Sichenzia Ross Ference Carmel LLP | |
10.1 | Stock Purchase Agreement | |
23.1 | Consent of Sichenzia Ross Ference Carmel LLP (included in Exhibit 5.1) | |
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: June 20, 2025 | By: | /s/ Michael Farkas |
Name: | Michael Farkas | |
Title: | Chief Executive Officer |