{"success":true,"data":{"pressRelease":{"id":"47878","rtpr_id":"nGNX383vmN","ticker":"NXXT","exchange":"NASDAQ","all_tickers":["NXXT"],"title":"NextNRG Announces Closing of $6.4 Million Private Placement of Common Stock with New Fundamental Institutional Investor","author":"Globe Newswire","published_at":"2026-05-28T12:00:03.449Z","article_body":"MIAMI, FL, May 28, 2026 (GLOBE NEWSWIRE) -- NextNRG, Inc. (Nasdaq: NXXT)\n(“NextNRG” or the “Company”), a pioneer in AI-driven energy innovation\ntransforming how energy is produced, managed, and delivered, today announced\nthe closing of its previously announced private placement of 10,000,000 shares\nof its common stock. The investor is a global multi-strategy institutional\ninvestment firm, and upon closing becomes an approximately 6% shareholder of\nthe Company. The Company received gross proceeds of approximately $6.4\nmillion, before deducting placement agent fees and other offering expenses.\n\nWith the transaction now closed and proceeds having been received, the Company\nwill move immediately to retire its outstanding convertible debt,\nstrengthening the Company’s balance sheet ahead of its next phase of growth.\nThe remaining proceeds will be deployed toward working capital and strategic\nexpansion across NextNRG’s operating segments.\n\n \"We are pleased to welcome a global institutional investor of this caliber\nto our shareholder base. We believe their decision to invest reflects a high\nlevel of conviction in what we are building, and that this capital will\nstrengthen our financial foundation and enable us to move forward with greater\nspeed and focus across our platform.\" said Michael D. Farkas, Founder and\nChief Executive Officer, NextNRG.\n\n“We believe that the closing of this transaction is a meaningful step in our\neffort to build a cleaner, more durable balance sheet. Eliminating our\nconvertible debt removes a structural overhang and puts us in a stronger\nposition to allocate capital toward growth. We are focused on financial\ndiscipline as much as operational execution, and this transaction reflects\nboth.” said Joel Kleiner, Chief Financial Officer, NextNRG.\n\nA.G.P./Alliance Global Partners acted as sole placement agent for the\noffering.\n\nABOUT THIS OFFERING\n\nThe securities sold in this offering were issued in reliance on an exemption\nfrom the registration requirements under Section 4(a)(2) of the Securities Act\nof 1933, as amended, and/or Regulation D promulgated thereunder, and\napplicable state securities laws, and have not been registered under the\nSecurities Act or applicable state securities laws. Pursuant to the terms of\nthe securities purchase agreement dated May 25, 2026, which the Company has\nentered into with the investor signatory thereto, the Company has agreed to\nfile a registration statement with the U.S. Securities and Exchange Commission\n(the “SEC”) covering the resale of the shares of common stock sold in the\noffering. This press release shall not constitute an offer to sell or a\nsolicitation of an offer to buy these securities, nor shall there be any sale\nof these securities in any state or other jurisdiction in which such offer,\nsolicitation, or sale would be unlawful prior to registration or qualification\nunder the securities laws of any such state or other jurisdiction.\n\nABOUT NEXTNRG, INC.\n\nNextNRG Inc. (Nasdaq: NXXT) is Powering What’s Next by integrating\nartificial intelligence (AI) and machine learning (ML) into utility\ninfrastructure, battery storage, wireless EV in-motion charging, renewable\nenergy, and mobile fuel delivery, to create a unified platform for modern\nenergy management. At the core of its strategy is the Next Utility Operating\nSystem®, which uses AI to optimize both new and existing infrastructure\nacross microgrids, utilities, and fleet operations. NextNRG’s smart\nmicrogrids serve commercial, healthcare, educational, tribal, and government\nsites delivering cost savings, reliability, and decarbonization. The Company\nalso operates one of the nation’s largest on-demand fueling fleets and is\nadvancing wireless charging to support fleet electrification. To learn more,\nvisit www.nextnrg.com.\n\nFORWARD-LOOKING STATEMENTS\n\nThis press release includes forward-looking statements within the meaning of\nthe U.S. Private Securities Litigation Reform Act of 1995 and other applicable\nsecurities laws. Any statements describing NextNRG’s goals, expectations,\nfinancial or other projections, intentions, or beliefs, including statements\nregarding the intended use of proceeds, the anticipated filing of a resale\nregistration statement, the expected impact of retiring convertible debt, the\nCompany’s capital strength and financial foundation, the Company’s ability\nto move forward with greater speed and focus, and the Company’s ability to\nexecute on its growth strategy and deliver long-term shareholder value, are\nforward-looking statements and should be considered at-risk statements. Words\nsuch as “expect,” “believe,” “intends,” “will,” “focused,”\n“enables,” and similar expressions are intended to identify\nforward-looking statements. These and other risks are described in NextNRG’s\nfilings with the SEC from time to time. NextNRG undertakes no obligation to\nupdate any forward-looking statements except as required by law.\n\nCONTACTS\n\nInvestor Relations\nNextNRG, Inc.\nSharon Cohen\nSCohen@nextnrg.com\n\nMedia Contact\nHCM for NextNRG\nnextnrg@hannahcranstonmedia.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/467287f0-fabc-4c2d-a951-3bb8bec81e97)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX383vmN","title":"NextNRG Announces Closing of $6.4 Million Private Placement of Common Stock with New Fundamental Institutional Investor","author":"Globe Newswire","ticker":"NXXT","created":"2026-05-28T12:00:03.449Z","tickers":["NXXT"],"exchange":"NASDAQ","article_body":"MIAMI, FL, May 28, 2026 (GLOBE NEWSWIRE) -- NextNRG, Inc. (Nasdaq: NXXT)\n(“NextNRG” or the “Company”), a pioneer in AI-driven energy innovation\ntransforming how energy is produced, managed, and delivered, today announced\nthe closing of its previously announced private placement of 10,000,000 shares\nof its common stock. The investor is a global multi-strategy institutional\ninvestment firm, and upon closing becomes an approximately 6% shareholder of\nthe Company. The Company received gross proceeds of approximately $6.4\nmillion, before deducting placement agent fees and other offering expenses.\n\nWith the transaction now closed and proceeds having been received, the Company\nwill move immediately to retire its outstanding convertible debt,\nstrengthening the Company’s balance sheet ahead of its next phase of growth.\nThe remaining proceeds will be deployed toward working capital and strategic\nexpansion across NextNRG’s operating segments.\n\n \"We are pleased to welcome a global institutional investor of this caliber\nto our shareholder base. We believe their decision to invest reflects a high\nlevel of conviction in what we are building, and that this capital will\nstrengthen our financial foundation and enable us to move forward with greater\nspeed and focus across our platform.\" said Michael D. Farkas, Founder and\nChief Executive Officer, NextNRG.\n\n“We believe that the closing of this transaction is a meaningful step in our\neffort to build a cleaner, more durable balance sheet. Eliminating our\nconvertible debt removes a structural overhang and puts us in a stronger\nposition to allocate capital toward growth. We are focused on financial\ndiscipline as much as operational execution, and this transaction reflects\nboth.” said Joel Kleiner, Chief Financial Officer, NextNRG.\n\nA.G.P./Alliance Global Partners acted as sole placement agent for the\noffering.\n\nABOUT THIS OFFERING\n\nThe securities sold in this offering were issued in reliance on an exemption\nfrom the registration requirements under Section 4(a)(2) of the Securities Act\nof 1933, as amended, and/or Regulation D promulgated thereunder, and\napplicable state securities laws, and have not been registered under the\nSecurities Act or applicable state securities laws. Pursuant to the terms of\nthe securities purchase agreement dated May 25, 2026, which the Company has\nentered into with the investor signatory thereto, the Company has agreed to\nfile a registration statement with the U.S. Securities and Exchange Commission\n(the “SEC”) covering the resale of the shares of common stock sold in the\noffering. This press release shall not constitute an offer to sell or a\nsolicitation of an offer to buy these securities, nor shall there be any sale\nof these securities in any state or other jurisdiction in which such offer,\nsolicitation, or sale would be unlawful prior to registration or qualification\nunder the securities laws of any such state or other jurisdiction.\n\nABOUT NEXTNRG, INC.\n\nNextNRG Inc. (Nasdaq: NXXT) is Powering What’s Next by integrating\nartificial intelligence (AI) and machine learning (ML) into utility\ninfrastructure, battery storage, wireless EV in-motion charging, renewable\nenergy, and mobile fuel delivery, to create a unified platform for modern\nenergy management. At the core of its strategy is the Next Utility Operating\nSystem®, which uses AI to optimize both new and existing infrastructure\nacross microgrids, utilities, and fleet operations. NextNRG’s smart\nmicrogrids serve commercial, healthcare, educational, tribal, and government\nsites delivering cost savings, reliability, and decarbonization. The Company\nalso operates one of the nation’s largest on-demand fueling fleets and is\nadvancing wireless charging to support fleet electrification. To learn more,\nvisit www.nextnrg.com.\n\nFORWARD-LOOKING STATEMENTS\n\nThis press release includes forward-looking statements within the meaning of\nthe U.S. Private Securities Litigation Reform Act of 1995 and other applicable\nsecurities laws. Any statements describing NextNRG’s goals, expectations,\nfinancial or other projections, intentions, or beliefs, including statements\nregarding the intended use of proceeds, the anticipated filing of a resale\nregistration statement, the expected impact of retiring convertible debt, the\nCompany’s capital strength and financial foundation, the Company’s ability\nto move forward with greater speed and focus, and the Company’s ability to\nexecute on its growth strategy and deliver long-term shareholder value, are\nforward-looking statements and should be considered at-risk statements. Words\nsuch as “expect,” “believe,” “intends,” “will,” “focused,”\n“enables,” and similar expressions are intended to identify\nforward-looking statements. These and other risks are described in NextNRG’s\nfilings with the SEC from time to time. NextNRG undertakes no obligation to\nupdate any forward-looking statements except as required by law.\n\nCONTACTS\n\nInvestor Relations\nNextNRG, Inc.\nSharon Cohen\nSCohen@nextnrg.com\n\nMedia Contact\nHCM for NextNRG\nnextnrg@hannahcranstonmedia.com\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/467287f0-fabc-4c2d-a951-3bb8bec81e97)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-28T12:00:03.4950524Z","server_sent_at_ms":1779969603495},"received_at":"2026-05-28T12:00:03.706Z","source_url":"https://www.globenewswire.com/news-release/2026/05/28/3302770/0/en/NextNRG-Announces-Closing-of-6-4-Million-Private-Placement-of-Common-Stock-with-New-Fundamental-Institutional-Investor.html"},"analysis":{"id":"37310","press_release_id":"47878","analysis_json":{"industry":{"label":"Electrical Equipment","sector":"Industrials"},"redFlags":["Significant dilution: 10M shares issued (investor takes 6% stake, implying ~166M total shares outstanding)"],"eventType":"offering","narrative":"NextNRG closed a private placement of 10 million shares of common stock, raising gross proceeds of $6.4 million from a global multi-strategy institutional investor.\n\nThe new investor now holds approximately 6% of the company. Management intends to use the proceeds primarily to retire outstanding convertible debt, thereby strengthening the balance sheet and removing a dilutive overhang.\n\nRemaining funds will be allocated to working capital and strategic expansion across the company's AI-driven energy infrastructure segments.","sentiment":"neutral","agentHooks":{"shouldPost":true,"suggestedAngle":"NextNRG closes $6.4M raise to retire convertible debt, removing dilutive overhang."},"keyFigures":{"dealValueUsd":6400000,"sharesOffered":10000000,"customDimensions":{"investor_stake":"6%"}},"quotedText":"Eliminating our convertible debt removes a structural overhang and puts us in a stronger position to allocate capital toward growth.","namedEntities":{"people":[{"name":"Michael D. Farkas","role":"Founder and Chief Executive Officer"},{"name":"Joel Kleiner","role":"Chief Financial Officer"},{"name":"Sharon Cohen","role":"Investor Relations"}],"products":["Next Utility Operating System®"],"companies":[{"name":"NextNRG, Inc.","ticker":"NXXT","relationship":"filer"},{"name":"A.G.P./Alliance Global Partners","relationship":"placement agent"}],"dollarAmounts":[{"amount":"$6.4 million","context":"gross proceeds of private placement"}]},"materialImpact":{"score":3,"reasoning":"Closing of a $6.4M private placement is a standard capital raise for a small-cap company. The use of proceeds to retire convertible debt removes a dilutive overhang, which is positive, but the issuance of 10M shares represents significant dilution. Without a stated offering price or prior close, we cannot assess the discount, but the event is material to the capital structure."},"tickerRelevance":{"others":[],"primary":"NXXT"},"globalImportance":25,"audienceRelevance":30,"eventTypeSecondary":["debt_offering"],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"capital_raise_debt_retirement","sectorWeight":"energy_tech","marketCapAdjustment":"low"}},"event_type":"offering","event_type_secondary":["debt_offering"],"sentiment":"neutral","material_impact_score":3,"narrative":"NextNRG closed a private placement of 10 million shares of common stock, raising gross proceeds of $6.4 million from a global multi-strategy institutional investor.\n\nThe new investor now holds approximately 6% of the company. Management intends to use the proceeds primarily to retire outstanding convertible debt, thereby strengthening the balance sheet and removing a dilutive overhang.\n\nRemaining funds will be allocated to working capital and strategic expansion across the company's AI-driven energy infrastructure segments.","key_figures":{"dealValueUsd":6400000,"sharesOffered":10000000,"customDimensions":{"investor_stake":"6%"}},"named_entities":{"people":[{"name":"Michael D. Farkas","role":"Founder and Chief Executive Officer"},{"name":"Joel Kleiner","role":"Chief Financial Officer"},{"name":"Sharon Cohen","role":"Investor Relations"}],"products":["Next Utility Operating System®"],"companies":[{"name":"NextNRG, Inc.","ticker":"NXXT","relationship":"filer"},{"name":"A.G.P./Alliance Global Partners","relationship":"placement agent"}],"dollarAmounts":[{"amount":"$6.4 million","context":"gross proceeds of private placement"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-05-28T12:15:35.643Z","global_importance":25,"audience_relevance":30,"importance_components":{"tickerTier":"small-cap","eventGravity":"capital_raise_debt_retirement","sectorWeight":"energy_tech","marketCapAdjustment":"low"}},"durationMs":43569,"modelName":"george-droid-qwen-72b"}}