Loan & DebtJul 15, 2026, 11:17 AM
NextTrip Extends $3M Line of Credit Maturity to May 2028
AI Summary
NextTrip, Inc. announced an amendment to its Line of Credit Agreement with Monaco Investment Partners II, LP, extending the maturity date to May 31, 2028. The original agreement, dated May 6, 2025, provided a line of credit for up to $3,000,000. The Lender is controlled by Donald P. Monaco, a director of NextTrip, and the amendment received approval from the company's Board of Directors and Audit Committee.
Key Highlights
- NextTrip extended its Line of Credit Agreement with Monaco Investment Partners II, LP.
- The maturity date for the credit agreement was extended from May 31, 2027, to May 31, 2028.
- The line of credit is for a principal amount of up to $3,000,000.
- The Lender, Monaco Investment Partners II, LP, is controlled by Donald P. Monaco, a director of NextTrip.
- The amendment was approved by NextTrip's Board of Directors and Audit Committee.
Price Impact
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