NextNRG Agrees to Convert $7 Million in Debt Into Preferred Shares
Bitget2026/11/03 14:10- NextNRG agreed to exchange $7 million owed to CEO Michael D. Farkas for 7,000 Series D Convertible Voting Preferred Stock shares.
- The shares carry an initial stated value of $1,000 each; the obligations will be canceled in full upon closing and issuance.
- The exchange will strengthen stockholders’ equity but will not alone satisfy Nasdaq’s $2.5 million minimum equity requirement.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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