EzFill Holdings Inc. Files 8-K: Material Agreement & Equity Sales

TL;DR

EzFill Holdings Inc. signed a big deal and sold some stock on Dec 26, 2024. Check the 8-K for details.

AI Summary

On December 26, 2024, EzFill Holdings Inc. entered into a material definitive agreement. The company also reported on unregistered sales of equity securities and other events. The filing includes financial statements and exhibits.

Why It Matters

This 8-K filing indicates significant corporate activity for EzFill Holdings Inc., including a new material agreement and equity transactions, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — The filing details material definitive agreements and unregistered sales of equity, which can introduce financial and operational risks.

Key Players & Entities

• EzFill Holdings Inc. (company) — Registrant
• December 26, 2024 (date) — Date of earliest event reported
• Miami, Florida (location) — Principal executive offices

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value per share EZFL NASDAQ Ca
• $2,500,000 — (the "December 26 Note") for the sum of $2,500,000 (the "Loan") to be used for the Company
• $400,000 — s to pay the Lender a commitment fee of $400,000 in consideration of the Loan, and an op
• $200,000 — Loan, and an optional extension fee of $200,000 for any month or part thereof in which
• $5,000,000 — uction with its transfer agent to issue $5,000,000 worth of shares of Company common stock
• $330,000 — (the "December 30 Note") for the sum of $330,000 to be used for the Company's working ca
• $0.70 — period prior to the conversion date; or $0.70 (the "Floor Price"). Notwithstanding th
• $100 m — ther reaching annual revenues exceeding $100 million, the Company completing projects
• $25 million — completing a capital raise greater than $25 million. The Second Amendment Agreement also pr
• $500,000 — alt Agreement provides the Company with $500,000 in receivables financing subject to an
• $15,000 — ancing subject to an origination fee of $15,000 and a payment schedule of $27,500 per w
• $27,500 — ee of $15,000 and a payment schedule of $27,500 per week. The Redstone Agreement provid
• $1,000,000 — one Agreement provides the Company with $1,000,000 in receivables financing subject to an
• $30,035 — ancing subject to an origination fee of $30,035 and a payment schedule of $55,000 per w
• $55,000 — ee of $30,035 and a payment schedule of $55,000 per week. The Funderzgroup Agreement pr

Filing Documents

• form8-k.htm (8-K) — 61KB
• ex10-1.htm (EX-10.1) — 35KB
• ex10-2.htm (EX-10.2) — 41KB
• 0001493152-25-000079.txt ( ) — 333KB
• ezfl-20241226.xsd (EX-101.SCH) — 3KB
• ezfl-20241226_lab.xml (EX-101.LAB) — 33KB
• ezfl-20241226_pre.xml (EX-101.PRE) — 24KB
• form8-k_htm.xml (XML) — 4KB

01 Other Events

Item 8.01 Other Events. Certain Receivable Financing Arrangements, dated as of December 27, 2024: On December 27, 2024, the Company entered certain receivable financing arrangements with the following parties: (i) Revenue Purchase Agreement and Guaranty of Performance with GALT FUNDING Co. (the "Galt Agreement"); (ii) Sales of Future Receipts Agreement with Redstone Advance Inc. (the "Redstone Agreement"); and (iii) Future Receivables Sale and Purchase Agreement with Funderzgroup LLC dba Mr. Advance (the "Funderzgroup Agreement", and together with the Galt Agreement and the Redstone Agreement, the "Receivable Financing Agreements"). Each of the Receivable Financing Agreements shall expire when the amounts financed thereunder are paid in full to the respective lenders, which the Company expects to be approximately six (6) months from the date of their signing. The Galt Agreement provides the Company with $500,000 in receivables financing subject to an origination fee of $15,000 and a payment schedule of $27,500 per week. The Redstone Agreement provides the Company with $1,000,000 in receivables financing subject to an origination fee of $30,035 and a payment schedule of $55,000 per week. The Funderzgroup Agreement provides the Company with $1,000,000 in receivables financing subject to fees of $30,035 and a payment schedule of $55,000 per week. Each of the Receivable Financing Agreements provide for certain representations and covenants that are customary for these types of transactions. Forward Looking Statement This Current Report on Form 8-K contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financia

View Full Filing

View this 8-K filing on SEC EDGAR