Form 8-K - Current report
January 22 2024 - 8:44AM
Edgar (US Regulatory)
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0001372183
0001372183
2023-10-28
2023-10-28
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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):
October 28, 2023
NextPlay Technologies, Inc.
(Exact name of Registrant as specified
in its charter)
Nevada |
|
001-38402 |
|
26-3509845 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
1560 Sawgrass Corporate Parkway,
4th Floor, Sunrise, Florida |
|
33323 |
(Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (954) 888-9779
Former name or former address, if changed since
last report: N/A
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 (see
General Instruction A.2. below):
| ☐ | 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 240.13e-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, par value $0.00001 per share |
|
NXTP |
|
The NASDAQ Stock Market LLC |
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
Material Financing Agreement Signed
Financing:
On October 28th, 2023, the company
executed a convertible loan agreement (“NextBank Convert”) with an investor for proceed of US $2.0 billion. The loan is convertible
only into common shares of Nextbank International, Inc., (“NextBank”) the Company’s 100% owned banking subsidiary, at
a conversion price that that would value NextBank at US $65 million. Conversion is subject to approval of NextBank’s Regulator.
There is no assurance that the deal shall close successfully. The NextBank Convert will be secured by NextBank shares only and shall not
be secured by shares of any other of the Company’s subsidiaries or affiliates, assets or liabilities. The investor has also signed
a breakup of US $2.0 million should the Investors fail to fund.
Forward Looking Statement.
The Company cautions you that statements included
in this Current Report on Form 8-K (this “Report”) that are not a description of historical facts are forward-looking statements.
In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,”
“expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,”
“contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue”
or the negatives of these terms or other similar expressions. These statements are based on the Company’s current beliefs and expectations.
These forward-looking statements include statements regarding the Company’s ability to regain and maintain compliance with the listing
standards of Nasdaq. The inclusion of forward-looking statements should not be regarded as a representation by the Company that any of
its plans will be achieved. Actual results may differ from those set forth in this Report due to the risks and uncertainties inherent
in the Company’s business. These forward-looking statements, including the Company’s ability to complete the financing are
based on information currently available to the Company and its current plans or expectations and are subject to a number of uncertainties
and risks that could significantly affect its current plans to file periodic reports with the Commission. You are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes No obligation to
revise or update this Report to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in
their entirety by this cautionary statement. This caution is made under the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995.
SIGNATURES
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.
|
NEXTPLAY TECHNOLOGIES, INC. |
|
|
|
|
Date: January 22, 2024 |
By: |
/s/ Nithinan Boonyawattanapisut |
|
|
Name: |
Nithinan Boonyawattanapisut |
|
|
Title: |
Chief Executive Officer |
|
|
|
|
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Oct. 28, 2023 |
Cover [Abstract] |
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Document Type |
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Amendment Flag |
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Document Period End Date |
Oct. 28, 2023
|
Entity File Number |
001-38402
|
Entity Registrant Name |
NextPlay Technologies, Inc.
|
Entity Central Index Key |
0001372183
|
Entity Tax Identification Number |
26-3509845
|
Entity Incorporation, State or Country Code |
NV
|
Entity Address, Address Line One |
1560 Sawgrass Corporate Parkway
|
Entity Address, Address Line Two |
4th Floor
|
Entity Address, City or Town |
Sunrise
|
Entity Address, State or Province |
FL
|
Entity Address, Postal Zip Code |
33323
|
City Area Code |
954
|
Local Phone Number |
888-9779
|
Written Communications |
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Soliciting Material |
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Pre-commencement Tender Offer |
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Pre-commencement Issuer Tender Offer |
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Title of 12(b) Security |
Common Stock, par value $0.00001 per share
|
Trading Symbol |
NXTP
|
Security Exchange Name |
NASDAQ
|
Entity Emerging Growth Company |
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