EzFill Holdings’ Strategic Financial Moves Amid Delisting Threat

EzFill Holdings (EZFL) has released an update.

EzFill Holdings, Inc. has executed amendments with Next Charging, LLC and AJB Capital Investments, LLC, establishing a maximum share conversion price of $1.54 for specific promissory notes. Additionally, EzFill entered into a new promissory note with Next, securing a $165,000 loan for working capital with interest terms that escalate after nine months and provisions for early repayment upon a capital raise. Notably, Next’s managing member, Michael Farkas, holds a significant stake in EzFill, which is poised to acquire Next as a wholly-owned subsidiary, pending the closure of earlier agreements. Amid these financial maneuvers, EzFill faces delisting from Nasdaq due to non-compliance with the stockholders’ equity requirement, prompting the company to appeal with plans to regain its listing status.

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