Monitor inventory turnover and boat sale margins to assess repayment capacity. The high interest rate and personal guarantee signal limited financing alternatives; any delay in boat sales could strain liquidity. Watch for subsequent deal schedules under the master agreement for additional draws.
Price Chart
Executive Summary
NextBoat entered into a Master Loan Agreement with RLLT Capital for up to $2.0 million in inventory financing, with an initial $2.0M draw at 15% simple interest, 180-day maturity, and a 5% profit participation on boat sales. The loan is unsecured but backed by a personal guarantee and stock pledge from the President/controlling shareholder. The high-cost debt suggests constrained access to cheaper capital, though it provides near-term working capital for boat inventory.
Key Financial Metrics
Key Facts
- Initial loan principal of $2.0 million funded on June 22, 2026
- Simple interest at 15.0% per annum, 180-day maturity (extendable 90 days with 2% premium)
- 1% origination fee and 5% profit participation on gross profit from boat sales
- Full-recourse, unsecured obligation; President Jason Ruegg provided personal guarantee and pledged NXB shares with at least $5.0M collateral value
- Related-party transaction disclosed due to Ruegg's controlling shareholder status
Financial Impact
$2.0M new debt at 15% annual interest, plus 1% origination fee and 5% profit participation on boat sales
Risk Factors
- High 15% interest cost and 5% profit participation reduce margins on boat sales
- Unsecured loan with full recourse; deficiency liability if boat sale proceeds are insufficient
- Concentration risk: reliance on successful inventory turnover within 180-day window
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-030328 |
| Document: form8-k.htm | 0001493152-26-030328 |
| Document: 0001493152-26-030328-index-headers.html | 0001493152-26-030328 |
| Document: 0001493152-26-030328-index.html | 0001493152-26-030328 |
| Document: 0001493152-26-030328.txt | 0001493152-26-030328 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 8-K | $1.71 | awaiting T+5 | — | $1.63 (+4.68%) |
Sep 4, 2026 7w ago | 8-K | $2.21 $2.27 | ▲ +2.71% | ▲ +3.92% | $1.63 (−26.24%) |
Aug 28, 2026 8w ago | 8-K | $2.19 $2.35 | ▲ +7.31% | ▲ +7.45% | $1.63 (−25.57%) |
Aug 18, 2026 9w ago | 8-K | $1.88 $2.06 | ▼ −9.57% | ▼ −9.96% | $1.63 (+13.30%) |
Aug 4, 2026 11w ago | 8-K | $2.23 $2.13 | ▼ −4.48% | ▼ −4.38% | $1.63 (−26.91%) |
Jul 23, 2026 13w ago | 8-K | $1.95 $1.93 | ▼ −1.28% | ▼ −1.66% | $1.63 (−16.41%) |
Jul 16, 2026 14w ago | 8-K | $2.07 $1.97 | ▼ −4.83% | ▼ −3.16% | $1.63 (−21.26%) |
Jul 1, 2026 16w ago | 8-K | $2.16 $2.24 | ▲ +3.70% | ▲ +3.44% | $1.63 (−24.54%) |
Jun 29, 2026 17w ago | 8-K | $2.50 $2.22 | ▼ −11.20% | ▼ −12.59% | $1.63 (−34.80%) |
Jun 26, 2026 17w ago | 8-K | $2.50 $2.22 | ▼ −11.20% | ▼ −12.59% | $1.63 (−34.80%) |
US Market Status
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