EzFill Prices Public Offering Of 5 Mln Shares At $3.00/shr; Stock Drops

(RTTNews) - EzFill Holdings Inc. (EZFL) announced the pricing of a public offering of 5 million shares of common stock at a price to the public of $3.00 per share, for gross proceeds of $15 million, before deducting underwriting discounts and offering expenses.

EZFL closed thursday's regular trading at $3.50 down $0.14 or 3.85%. In the after-hours trading the stock further dropped $0.33 or 9.43%.

In addition, EzFill has granted the underwriters a 45-day option to purchase up to an additional 750,000 shares of common stock to cover over-allotments, if any.

EzFill also announced the closing of its share exchange agreement with NextNRG Holding Corp. Effective February 14, 2025, the Company will change its name from EzFill Holdings, Inc. to NextNRG, Inc. The Company's common stock will cease trading under the ticker symbol EZFL and begin trading on the Nasdaq Capital Market under the ticker symbol NXXT and the new CUSIP number 652941105 as of the commencement of trading on February 14, 2025.

The offering is expected to close on February 18, 2025, subject to satisfaction of customary closing conditions.

The company plans to use the proceeds to expand its business, repay outstanding indebtedness, and general corporate purposes, including working capital.