NextNRG Enters Merchant Cash Advance Agreement, Receiving $940,000 in Net Funds

NextNRG Inc. (NXXT) entered into a Standard Merchant Cash Advance Agreement with Avanza Capital Holdings, LLC to secure immediate funding. The company sold future receivables in exchange for a lump-sum payment, providing near-term liquidity.

Key Details

• Agreement Terms: On June 30, 2026, NextNRG sold $1,499,900 of its future receivables for a purchase price of $1,000,000. The company received net proceeds of $940,000 after a $60,000 underwriting and program fee.
• Repayment Structure: The company will remit 25% of its daily receivables to Avanza until the full $1,499,900 is paid. The initial estimated weekly payment is $62,496, collected via ACH debit.
• Security and Guarantee: The agreement is secured by a first priority security interest in substantially all of the company's assets. Michael D. Farkas, the company's CEO and Chairman, has personally guaranteed the company's obligations under the agreement.