SurgePays, Inc. Announces Formation of LWP‑SURGE Joint Venture

What Happened

• SurgePays, Inc. announced on Sept. 2, 2026 that it formed LWP‑SURGE, LLC (a Wyoming LLC) as the intended operating vehicle for a proposed joint venture with All Prepaid, LLC (doing business as LowWeeklyPayments or “LWP”). The joint venture is planned to operate a smartphone rent‑to‑own program using LWP’s real‑time approval platform, contract templates, and servicing technology through SurgePays’ independent retail dealer network. The company filed the formation (articles of organization) with the Wyoming Secretary of State that day and reported the event on a Form 8‑K filed Sept. 3, 2026.

Key Details

• SurgePays expects to hold a 51% membership interest in LWP‑SURGE and to serve as manager; LWP is expected to hold 49%.
• Board structure is expected to be five managers with SurgePays appointing three (including the chair) and LWP appointing two.
• Certain actions (sale of LWP‑SURGE, incurrence of debt outside an approved portfolio funding facility, issuing additional membership interests, voluntary dissolution) would require consent of both members.
• LWP‑SURGE had no operations, revenue, assets, or liabilities as of the filing date; no definitive operating agreement, IP license, distribution, or shared services agreements had been executed at filing.

Why It Matters

• This filing signals SurgePays’ strategic move into a smartphone rent‑to‑own business through a joint venture structure, but the JV is still preliminary. There are no definitive agreements yet, no portfolio funding guaranteed, and LWP‑SURGE currently has no operations or financials. SurgePays also stated it does not expect the mere formation of LWP‑SURGE, by itself, to have a material effect on its financial condition or results for the current fiscal quarter. Investors should note the forward‑looking nature of the plans and that additional SEC filings will be made if and when definitive agreements are executed.