Aug. 19 at 5:25 PM
We have secured a new financing structure providing for up to
$27.2 million in capital, with
$9.2 million completed at the initial closing. As part of the transaction, we also retired the
$2 million secured convertible note issued in July and released the related security interest over company assets.
The financing comes as the business is showing stronger operating momentum, with the latest Q2 results reflecting continued revenue growth, improved operating performance and lower interest expenses. Support from shareholders for the transaction adds further alignment as we continue executing on the company’s broader plan.
With additional capital available, our focus remains on execution across a connected energy platform: growing mobile fueling while leveraging existing fleet relationships as customer needs expand into EV charging, distributed power and smart microgrids, all connected and managed through our AI-powered Smart Controller.
$NXXT