NextNRG to Lose Nasdaq Listing November 11 as Panel Cites Dilution Risk

NextNRG, Inc. will have its common stock suspended from the Nasdaq Capital Market at the opening of trading on November 11, 2026 and delisted subject to any appeal, investor NX Energy SPV LLC said in a PR Newswire statement. The stock is expected to begin trading on the OTC Markets the same day.

Why Nasdaq Moved Against NextNRG

NX Energy SPV LLC said the decision followed a hearing before a Nasdaq hearings panel. The panel concluded NextNRG had not shown it could sustain compliance with Nasdaq's minimum bid price requirement. It noted that after the company's September 2026 10-for-1 reverse stock split, the closing bid price stayed above $1.00 for only five consecutive trading days before falling below $1.00 again.

The panel also raised concerns about potential dilution from NextNRG's plans to address its stockholders' equity deficiency. Those plans depend on substantial issuances of preferred stock, convertible securities and equity capital, according to the statement. Nasdaq concluded the resulting overhang could dilute the price of the company's securities and undermine its ability to stay above the minimum bid after any further reverse split.

NextNRG is an AI-driven energy technology company that combines mobile fuel delivery, microgrids, wireless EV charging and energy management on one platform, according to company records. It was founded in 2022 and is headquartered in Miami.

NextNRG's Proposed Turbine Purchase

NX Energy SPV LLC said NextNRG is in discussions with an unrelated third party to acquire three five-megawatt turbines, with an option for up to eight more at a future date. NextNRG would issue 15,000 shares of a newly designated preferred stock as consideration for the three turbines, an aggregate stated value of $15.0 million, or $5.0 million per turbine. Additional turbines would also be bought at $5.0 million each.

The preferred stock is expected to carry a stated value of $1,000, pay no dividends and have no maturity date. It would rank senior to the common stock but junior to existing and future indebtedness and to the series C convertible non-voting preferred and series D preferred. Conversion into common stock is not expected before the later of 18 months after issuance and delivery and acceptance of all 11 turbines, at an initial conversion price of $75.00 per share. Any transaction remains subject to definitive documentation and board approval.

NextNRG's Funding and Revenue Record

According to akta.pro funding records, NextNRG closed a $6.4 million private placement in May 2026 at a $135.4 million post-money valuation and raised $27.2 million in post-IPO equity in August 2026. The same records show full-year 2025 revenue of $81.8 million, up 195% from $27.8 million in 2024, and preliminary May 2026 revenue of $9.3 million, 41% higher than a year earlier.

Earlier NextNRG Developments

In September 2026, American City Business Journals reported that NextNRG planned to appeal Nasdaq's decision to delist it, with its shares trading below the exchange's threshold. In August 2026, Investing.com reported that NextNRG signed a 25-year contract with Taft Medical Complex in Florida to deploy and manage an integrated energy system combining solar, battery storage, a microgrid controller and EV charging. Also in August 2026, Benzinga reported that NextNRG posted a 41% year-over-year revenue increase to $27 million for the second quarter of 2026.

What Comes Next for NextNRG

The OTC Markets listing is expected to begin on November 11, 2026. The turbine discussions remain subject to definitive documentation and approval by NextNRG's board of directors.