EZFill Holdings, Inc. Enters into Promissory Notes with NextNRG Holding Corp. for Working Capital

On December 2 and December 3, 2024, EZFill Holdings, Inc. (NASDAQ:EZFL) entered into separate promissory notes with NextNRG Holding Corp. for working capital needs. The promissory notes, totaling $715,000 and $275,000 respectively, included an original issue discount. The notes have a fixed rate of interest of 8% per annum and are due to be fully repaid by December 2, 2025, and December 3, 2025, respectively, unless accelerated or extended as per the terms outlined.

In the event of default, NextNRG Holding Corp. has the option to convert the outstanding balance, along with all payable amounts, into EZFill Holdings, Inc.’s common stock. This conversion price will be determined by specific conditions mentioned within the agreements.

Additionally, the company disclosed information regarding the ownership structure and agreements between EZFill Holdings, Inc. and NextNRG Holding Corp. The announcement highlighted the involvement of Michael Farkas, the CEO of NextNRG Holding Corp., as a significant shareholder in EZFill Holdings, Inc.

The details shared are specifically outlined in the respective promissory notes, which are now part of the company’s financial agreements as disclosed in the SEC filing submitted on December 5, 2024.

Investors and stakeholders are encouraged to refer to the original SEC filing for a comprehensive review of the agreements and their implications.

This news release contains forward-looking statements that are subject to various risks and uncertainties. Actual results may differ materially from expectations conveyed in these statements based on factors such as economic conditions, customer demand, and technological advancements.

The filing is in accordance with regulatory obligations for public disclosure under the Securities Exchange Act of 1934, providing transparency to shareholders and the investment community. Interested parties can access the complete filing on the EDGAR section of the SEC’s website or through EZFill Holdings, Inc.’s investor relations portal.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read EZFill’s 8K filing here.

EZFill Company Profile

EZFill Holdings Inc operates as a mobile fueling company primarily in Florida. It offers on-demand fueling services to consumer, fleet, marine, and other specialty markets. The company was incorporated in 2019 and is based in Miami, Florida.