NextTrip agrees to senior secured convertible note financing
NextTrip entered a definitive financing agreement with Lind Global Fund III for an 18-month senior secured convertible note of up to $4.6 million.
The structure allows repayment of principal and interest entirely in cash, reducing potential share issuance from conversions.
The note carries a fixed conversion price of $3.88 per share.
Proceeds are earmarked for growth initiatives, working capital, rollout of NextTrip Pro, and partial retirement of other convertible obligations via cash repayments.
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