NextNRG Announces 1-for-10 Reverse Stock Split

Miami, FL, Oct. 28, 2026 (GLOBE NEWSWIRE) -- NextNRG, Inc. (Nasdaq: NXXT) ("NextNRG" or the "Company"), a pioneer in AI-driven energy innovation transforming how energy is produced, managed and delivered, today announced that it will effect a 1-for-10 reverse split (“reverse stock split”) of its shares of common stock that will become effective on October 30, 2026 at 12:01 a.m. (Eastern Time).

The Company’s common stock will continue to trade on Nasdaq under the symbol “NXXT” and will begin trading on a split-adjusted basis when the market opens on October 30, 2026. The new CUSIP number for the common stock following the reverse stock split will be 652941303. At the effective time of the reverse stock split, every 10 shares of the Company's issued and outstanding common stock will be automatically reclassified and combined into 1 share of common stock. The reverse stock split will reduce the number of outstanding shares of common stock from approximately 16.84 million shares to approximately 1.68 million shares, without giving effect to rounding. The reverse stock split will also apply to Company’s common stock issuable upon exercise of the Company’s outstanding stock options and warrants and upon conversion of outstanding convertible securities. No fractional shares will be issued; instead, any fractional entitlements will be rounded up to the next highest whole number at the participant level. Also as a result of the reverse stock split, the number of the Company's authorized shares of common stock will be reduced from 500 million shares to 50 million shares. The par value and other terms of the Company's common stock are not affected by the reverse stock split. The number of the authorized shares and other terms of the Company's preferred stock under the Company's articles of incorporation will not be reduced in connection with the reverse stock split.