Form 8-K - Current report
December 06 2023 - 4:10PM
Edgar (US Regulatory)
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0001817004
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2023-12-04
2023-12-04
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C., 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): December 4, 2023
EZFILL
HOLDINGS, INC.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-40809 |
|
84-4260623 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
67
NW 183rd Street, Miami, Florida 33169
(Address
of principal executive offices, including Zip Code)
305-791-1169
(Registrant’s
telephone number, including area code)
2999
NE 191st Street, Ste 500, Aventura Florida 33180
(Former
name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13a-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, $0.0001 par value per share |
|
EZFL |
|
NASDAQ
Capital Market |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
1.01 Entry into a Material Definitive Agreement.
On
December 4, 2023, the Company and Next Charging, LLC (“Next”) entered into a promissory note (the “Note”) for
the sum of $220,000 (the “Loan”). The Note has an original issue discount (“OID”) equal to $20,000, which is
10% of the aggregate original principal amount of the Loan. The unpaid principal balance of the Note has a fixed rate of interest of
8% per annum for the first nine months, afterward, the Note will begin to accrue interest on the entire balance at 18% per annum.
Unless
the Note is otherwise accelerated, or extended in accordance with the terms and conditions therein, the balance of the Note, along with
accrued interest, will be due on February 4, 2024 (the “Maturity Date”). The Maturity Date will automatically be extended
for 2 month periods, unless Next sends 10 days written notice, prior to the end of any 2 month period, that it does not wish to extend
the Note, at which point the end of the then current 2 month period shall be the Maturity Date. Notwithstanding the foregoing, upon the
Company completing a capital raise of at least $3,000,000, the entire outstanding principal and interest through the Maturity Date will
be immediately due.
If
the Company defaults on the Note, (i) the unpaid principal and interest sums, along with all other amounts payable, multiplied by 150%
will be immediately due, and (ii) Next will have the right to convert all or any part of the outstanding and unpaid principal, interest,
penalties, and all other amounts under the Note into fully paid and non-assessable shares of the Company’s common stock. The conversion
price will be the average closing price over the 10 trading days ending on the date of conversion.
Michael
Farkas is the managing member of Next (the “Managing Member”). The Managing Member is also the beneficial owner of approximately
20% of the Company’s issued and outstanding common stock. Additionally and as previously reported on a Current Report on Form 8-K
that was filed with the Securities and Exchange Commission on August 16, 2023, on August 10, 2023, and on November 8, 2023, the Company,
the members (the “Members”) of Next and its Managing Member, as an individual and also as the representative of the Members,
entered into an Exchange Agreement (the “Exchange Agreement”), pursuant to which the Company agreed to acquire from the Members
100% of the membership interests of Next in exchange for the issuance by the Company to the Members of shares of common stock, par value
$0.0001 per share, of the Company. Upon consummation of the transactions contemplated by the Exchange Agreement (the “Closing”),
Next will become a wholly-owned subsidiary of the Company. As of the date of this Current Report on Form 8-K, the Closing has not occurred.
The
information set forth above is qualified in its entirety by reference to the Note, which is incorporated herein by reference and attached
hereto as Exhibit 10.1.
Item
3.02. Unregistered Sales of Equity Securities.
To
the extent required by this Item 3.02, the information contained in Item 1.01 is incorporated herein by reference.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits3
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Date:
December 6, 2023
EZFILL
HOLDINGS, INC. |
|
|
|
|
By: |
/s/
Yehuda Levy |
|
Name:
|
Yehuda
Levy |
|
Title: |
Interim
Chief Executive Officer |
|
Exhibit
10.1
![](https://www.sec.gov/Archives/edgar/data/1817004/000149315223043876/ex10-1_001.jpg)
![](https://www.sec.gov/Archives/edgar/data/1817004/000149315223043876/ex10-1_002.jpg)
![](https://www.sec.gov/Archives/edgar/data/1817004/000149315223043876/ex10-1_003.jpg)
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