NextBoat Inc. (OTH) Form 8-K — Aug 18, 2026
$OTHForm 8-KItems 1.01, 2.03, 3.02, 9.01Filed Aug 18, 2026, 5:00 PM ET0001493152-26-039033Original filing
NextBoat Inc. entered into a $510,000 loan agreement with Greentree Financial Group, Inc. on August 14, 2026, funded through a 10% convertible promissory note carrying a 10% original issuance discount. The company expects net proceeds of approximately $459,000 after the discount and a $10,000 legal fee allowance.
Key figures
- Debt Amount
- 510000
- Interest Rate
- 10
- Maturity Date
- August 14, 2028
- Warrant term
- 3 years (expires August 14, 2029)
- Warrant shares
- 100000
- Conversion price
- 1.785
- Conversion reset
- Every six-month anniversary, reset to closing bid price if lower
- Commitment shares
- 20000
- Liquidated damages
- $1,000 per day for late share delivery
- First interest date
- October 10, 2026 (per 8-K body)
- Legal fee allowance
- 10000
- Net proceeds approx
- 459000
- Default interest rate
- 18% per annum
- Warrant exercise price
- 1.785
- Beneficial ownership cap
- 4.99%, waivable to 9.99% on 61 days notice
- Original issuance discount
- 10%
- Conversion cost reimbursement
- $1,500 added to principal per conversion of at least $100,000
- Qualified financing threshold
- 5000000
Price after filing
1 day: -1.6%7 days: +8.9%30 days: +12.0%
Close on the filing date to close N calendar days later (from $1.91). Historical, not a forecast.
AI analysis
Red flags7 · Pro
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.