OFF THE HOOK YS INC.

NextBoat Inc. and its subsidiary, Off The Hook Yacht Sales NC, LLC, secured a Master Loan Agreement with RLLT Capital, LLC to finance pre-owned boat inventory. The initial loan amount is $2.0 million, bearing a 15.0% annual interest rate, a 1% origination fee, and a 5% profit participation. The transaction is considered related-party due to a personal guarantee and stock pledge by Jason Ruegg, the company's President and controlling shareholder, securing the obligations with shares valued at not less than $5.0 million.

NextBoat Inc. announced significant progress in the first 60 days following its acquisition of Apex Marine Companies (APEX). The company successfully integrated APEX's entire boat inventory, expanded service capacity, and achieved early sales success with 15 vessels sold. NextBoat also identified approximately $90,000 in monthly SG&A reductions through operational optimization, including closing its Haulover location. These accomplishments represent important milestones in NextBoat’s post-acquisition integration strategy, positioning the company for continued growth and improved profitability.

NextBoat Inc.'s Autograph Yachts Division reported strong second-quarter growth, exceeding its first-year transaction volume target by over 30%. Since its launch in September 2025, the division has facilitated approximately $132 million in brokerage and trade transactions. During Q2, transaction activity increased by 41% to 31 yacht transactions, with gross sales volume rising by $43 million and total transaction volume nearly doubling Q1 figures. The company is also expanding its brokerage listing inventory, geographic presence with a new Miami office, and broker team.

Off The Hook YS Inc. announced its official rebrand to NextBoat Inc. and a change in its ticker symbol from "OTH" to "NXB" on the NYSE American, effective on or about May 29, 2026. This strategic move reflects the company's evolution from a traditional yacht brokerage into an AI-powered technology platform aimed at modernizing the global pre-owned marine marketplace. The original Off The Hook Yachts will continue as a core division under NextBoat, focusing on B2B dealer transactions and inventory liquidation.

Off the Hook YS Inc. announced its Annual Meeting of Stockholders will be held virtually on June 24, 2026, at 11:00 a.m. Eastern Time. Stockholders as of May 4, 2026, are eligible to vote on the election of seven directors, the ratification of M&K as the independent auditor, and an amendment to the 2025 Equity Incentive Plan. The proposed amendment seeks to increase authorized shares to 6,000,000, add an evergreen provision, and expand award types. The Board recommends voting "FOR" all proposals.

OFF THE HOOK YS INC. reported a net loss of $(3.47) million for the first quarter of 2026, a significant decline from a net income of $0.29 million in Q1 2025, despite a 9.6% increase in revenues to $29.84 million. The company also announced an agreement to acquire Bellhart Marine Group for approximately $0.8 million in cash, expanding its marine service capabilities. Operating expenses rose sharply, contributing to the quarterly loss, while cash used in operating activities increased substantially.

Off The Hook YS Inc. reported Q1 2026 financial results, with revenue increasing 9.6% to $29.8 million and gross profit rising 18.5% to $3.2 million. Despite this growth, the company posted a net loss of $3.47 million, a significant decline from the prior year's net income. Concurrently, Off The Hook completed the acquisition of Apex Marine, strengthening its South Florida presence and operational infrastructure, and raised its full-year 2026 revenue guidance to $165-$170 million.

Off The Hook YS Inc. completed the acquisition of Apex Marine Companies for an aggregate purchase price of $5,966,667. The payment included $1.2 million in cash, $1.8 million in common stock (679,012 shares), and $2,966,667 through two promissory notes. This strategic acquisition provides Off The Hook with premier South Florida marine service, storage, and sales operations, enhancing operational efficiency, refurbishment capacity, and global sales reach, and is expected to generate millions in annual cost savings.

Off The Hook YS Inc. announced it will release its first quarter 2026 financial and operating results on Thursday, May 14, 2026, after market close. This will be followed by a live earnings conference call at 4:30 p.m. Eastern time. Investors can access the webcast via the company's investor relations section of its website.

Off The Hook YS Inc. announced a major expansion by adding Sportsman Boats and Phenom Yachts to its offerings. This move is supported by the acquisition of Bellhart Marine, which will serve as a retail dealership hub in Wilmington, NC. The company will leverage Sloop Point Marina, a dry stack storage facility with 224 racks expanding to 450, to create an integrated sales, storage, and service ecosystem, aiming for a high-margin revenue flywheel.