MIAMI, July 21, 2025 (GLOBE NEWSWIRE) — NextNRG, Inc. (Nasdaq: NXXT), a pioneer in AI-driven energy innovation transforming how energy is produced, managed, and delivered through its Next Utility Operating System®, smart microgrids, wireless EV charging, and mobile fuel delivery, today announced the completion of a comprehensive financial restructuring that significantly reduces the company’s monthly cash burn by approximately $1 million.
The restructuring consists of two key transactions: a debt conversion agreement that converts existing debt obligations to equity at a premium to market, and a strategic refinancing that replaces high-cost short-term debt with an 8-month $2 million note. Under the debt conversion executed on July 11, 2025, NextNRG issued 1,081,395 shares of restricted common stock at $2.15 per share to an existing lender, eliminating the company’s obligations to the lender. Simultaneously, the company secured new financing to pay off certain short-term debt. The shares issued cannot be sold for a minimum of six months. The net result of the two transactions was a nearly $1 million reduction to the Company’s monthly burn.
“This comprehensive financial restructuring represents a transformative moment for NextNRG, dramatically improving our cash flow position and providing the financial stability needed to execute our growth strategy,” said Michael D. Farkas, Executive Chairman and CEO of NextNRG. “By reducing our monthly burn by approximately $1 million, through these strategic transactions, we can focus additional resources on scaling our AI-driven energy platform and achieving our path to profitability. We are also excited to be converting a lender into a long-term investor into our Company.”
The financial restructuring positions NextNRG with significantly improved cash flow dynamics as the company continues its rapid expansion across multiple energy sectors and geographic markets and gets closer to profitability.
About NextNRG, Inc.
NextNRG Inc. (NextNRG) is Powering What’s Next by implementing artificial intelligence (AI) and machine learning (ML) into renewable energy, next-generation energy infrastructure, battery storage, wireless electric vehicle (EV) charging and on-demand mobile fuel delivery to create an integrated ecosystem.
At the core of NextNRG’s strategy is its Next Utility Operating System®, which leverages AI and ML to help make existing utilities’ energy management as efficient as possible, and the deployment of NextNRG smart microgrids, which utilize AI-driven energy management alongside solar power and battery storage to enhance energy efficiency, reduce costs and improve grid resiliency.
To find out more visit: www.nextnrg.com
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement describing NextNRG’s goals, expectations, financial or other projections, intentions, or beliefs is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, including, but not limited to, those related to NextNRG’s business and macroeconomic and geopolitical events. These and other risks are described in NextNRG’s filings with the Securities and Exchange Commission from time to time. NextNRG’s forward-looking statements involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although NextNRG’s forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by NextNRG. Except as required by law, NextNRG undertakes no obligation to update any forward-looking statements for any reason. As a result, you are cautioned not to rely on these forward-looking statements.
Investor Relations Contact
NextNRG, Inc.
Sharon Cohen
SCohen@nextnrg.com
