Form 8-K - Current report
06 September 2023 - 11:26PM
Edgar (US Regulatory)
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2023-08-30
2023-08-30
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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): August 30, 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 St., Aventura, FL 33169
(Address
of principal executive offices, including Zip Code)
305-791-1169
(Registrant’s
telephone number, including area code)
Not
Applicable
(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
August 30, 2023, EzFill Holdings, Inc. (the “Company” or “Borrower”) and Next Charging, LLC (“Next”)
entered into a promissory note (the “Note”) for the sum of $165,000 (the “Loan”). The Note has an original issue
discount (“OID”) equal to $15,000, 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 October 30, 2023 (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
24% 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,
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 4.1.
Item
2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
To
the extent required by this Item 2.03, the information contained in Item 1.01 is incorporated herein by reference.
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)
Exhibits.
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.
|
EZFILL HOLDINGS, INC. |
|
|
Date: September 6, 2023 |
By: |
/s/ Yehuda
Levy |
|
Name: |
Yehuda Levy |
|
Title: |
Interim Chief Executive Officer |
Exhibit 4.1
v3.23.2
Cover
|
Aug. 30, 2023 |
Cover [Abstract] |
|
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Aug. 30, 2023
|
Entity File Number |
001-40809
|
Entity Registrant Name |
EZFILL
HOLDINGS, INC.
|
Entity Central Index Key |
0001817004
|
Entity Tax Identification Number |
84-4260623
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
67
NW 183
|
Entity Address, Address Line Two |
rd
|
Entity Address, Address Line Three |
St.
|
Entity Address, City or Town |
Aventura
|
Entity Address, State or Province |
FL
|
Entity Address, Postal Zip Code |
33169
|
City Area Code |
305
|
Local Phone Number |
791-1169
|
Written Communications |
false
|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
false
|
Title of 12(b) Security |
Common Stock, $0.0001 par
value per share
|
Trading Symbol |
EZFL
|
Security Exchange Name |
NASDAQ
|
Entity Emerging Growth Company |
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Elected Not To Use the Extended Transition Period |
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