NextTrip Secures $4.6M Convertible Note Financing
NextTrip, Inc. announced an 18-month senior secured convertible note financing with Lind Global Fund III for up to $4.6 million, providing $4.0 million in cash, with a fixed conversion price of $3.88 per share and an option to repay entirely in cash to avoid equity conversions. The financing is aimed at accelerating commercialization of media, advertising and creator commerce platforms, rolling out NextTrip Pro, and supporting growth across JOURNY TV and YADA Commerce while strengthening the balance sheet toward cash-flow breakeven. The deal includes a five-year warrant for 1,030,928 shares exercisable at $3.88 and allows monthly repayments in cash or stock under certain conditions. The note is secured by a first-priority lien on all assets and carries customary covenants and an ownership cap. Management, the board, and founding investors have invested more than $20 million of their own capital in the company, underscoring strong insider support. Full terms and details are disclosed in the company’s Form 8-K.
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