09:09 AM EDT, 06/30/2025 (MT Newswires) -- NextNRG ( NXXT ) said Monday it signed a non-binding letter of intent to acquire Canadian mobile fueling company ReFuel Mobile.

Under the terms of the letter of intent, NextNRG ( NXXT ) plans to acquire all of ReFuel's stock, payable in cash or NextNRG ( NXXT ) restricted common stock, at its discretion, the company said in a statement.

Financial terms were not disclosed.

The transaction includes the retention of all of ReFuel's current employees and management during a transition period. Closing of the transaction is expected by August 1, the company said.

NextNRG ( NXXT ) said the acquisition is expected to immediately contribute to its recurring revenue base.

Shares of the company were over 4% higher in recent premarket activity.