Nextboat enters USD 510,000 convertible loan deal with Greentree Financial Group
NXB•Key terms of the note
The note matures Aug. 14, 2028. 10% interest is paid quarterly starting Oct. 10, 2026; the default rate rises to 18%.
The lender can convert at USD 1.79 per share, with periodic reset to a lower bid price; the beneficial ownership cap starts at 4.99%.
Warrants and commitment shares
Greentree also received a warrant for 100,000 shares at USD 1.79, down-round protected, plus 20,000 restricted commitment shares.
Convertible loan agreement with Greentree Financial Group
NextBoat entered a loan agreement with Greentree Financial Group on Aug. 14, 2026 for USD 510,000.
The 10% Convertible Promissory Note carries a 10% original issuance discount; net proceeds are about USD 459,000 before a USD 10,000 legal fee allowance.
