NextDecade Reports Material Agreement & New Financial Obligation

TL;DR

**NextDecade just locked in a major deal or financing, signaling big project movement.**

AI Summary

NextDecade Corp. filed an 8-K on January 8, 2024, reporting an event on January 4, 2024, related to entering a material definitive agreement and creating a direct financial obligation. This filing indicates that the company has likely secured new financing or entered a significant contract, which could impact its future projects and financial health. For investors, this matters because such agreements can signal progress on major initiatives like the Rio Grande LNG project, potentially increasing the stock's value if the terms are favorable and the project advances.

Why It Matters

This filing signals NextDecade has likely secured a significant deal or financing, which is crucial for funding its capital-intensive LNG projects and could drive future growth.

Risk Assessment

Risk Level: medium — While a new agreement can be positive, the details of the financial obligation are not disclosed, introducing uncertainty about its terms and potential impact on the company's balance sheet.

Analyst Insight

A smart investor would monitor NextDecade's subsequent announcements for specific details on the 'material definitive agreement' and 'direct financial obligation' to assess their impact on project timelines and financial leverage before making investment decisions.

Key Players & Entities

• NextDecade Corp. (company) — the registrant filing the 8-K
• January 4, 2024 (date) — date of the earliest event reported
• January 8, 2024 (date) — date the 8-K was filed
• 001-36842 (other) — Commission File Number
• Delaware (other) — State of Incorporation for NextDecade Corp.

Forward-Looking Statements

• NextDecade will provide more details on the material definitive agreement and financial obligation in a subsequent filing or press release. (NextDecade Corp.) — high confidence, target: Q1 2024
• The new financial obligation is likely related to funding for the Rio Grande LNG project. (Rio Grande LNG project) — medium confidence, target: N/A

FAQ

Key Financial Figures

• $0.0001 — ge on which registered: Common Stock, $0.0001 par value NEXT The Nasdaq Stock Marke
• $50,000,000 — " Revolving Loans ") in an amount up to $50,000,000 available to NextDecade LNG to be used
• $12,500,000 — oans, the " Loans ") in an amount up to $12,500,000 available to NextDecade LNG to pay inte

Filing Documents

• next20240104_8k.htm (8-K) — 31KB
• ex_612541.htm (EX-99.1) — 12KB
• 0001437749-24-000877.txt ( ) — 45KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On January 4, 2024 (the " Closing Date "), NextDecade LNG, LLC, a Delaware limited liability company (" NextDecade LNG ") and a direct subsidiary of NextDecade Corporation (the " Company "), entered into a Credit and Guaranty Agreement (the " Credit Agreement ") by and among NextDecade LNG, as borrower, Rio Grande LNG Super Holdings, LLC, a Delaware limited liability company and a direct subsidiary of NextDecade LNG (" RG Super Holdings "), as a subsidiary guarantor, Rio Grande LNG Intermediate Super Holdings, LLC, a Delaware limited liability company and an indirect subsidiary of NextDecade LNG (" RG Intermediate Super Holdings "), as a subsidiary guarantor, MUFG Bank, Ltd., as the administrative agent (the " Administrative Agent "), Wilmington Trust, National Association, as the collateral agent (the " Collateral Agent "), MUFG Bank, Ltd., as coordinating lead arranger and bookrunner and the financial institutions party thereto as lenders. The Credit Agreement provides for the following facilities: a revolving loan facility (the " Revolving Loans ") in an amount up to $50,000,000 available to NextDecade LNG to be used for (a) general corporate purposes and working capital requirements of NextDecade LNG and its subsidiaries, including development costs related to the fourth liquefaction train and related common facilities at the Rio Grande LNG multi-plant integrated natural gas liquefaction and liquefied natural gas export terminal facility at the Port of Brownsville in southern Texas (the " Rio Grande LNG Facility "), and (b) certain permitted payments on behalf of the Company and its subsidiaries; and an interest loan facility (the " Interest Loans " and together with the Revolving Loans, the " Loans ") in an amount up to $12,500,000 available to NextDecade LNG to pay interest obligations, fees, and expenses due and payable under the Credit Agreement and the other finance documents. The principal amount o

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. The information in this Item 7.01 of this Current Report is being furnished pursuant to Item 7.01 of Form 8-K and, according to general instruction B.2. thereunder, the information in this Item 7.01 of this Current Report shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 (the " Exchange Act ") or otherwise subject to the liabilities of that Section. The information in this Item 7.01 of this Current Report shall not be incorporated by reference into any registration statement pursuant to the Securities Act or the Exchange Act. On January 4, 2024, the Company issued a press release regarding NextDecade LNG's entry into the Credit Agreement. A copy of the press release is attached hereto as Exhibit 99.1.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. 99.1 Press Release issued by the Company on January 4, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: January 8, 2024 NEXTDECADE CORPORATION By: /s/ Vera de Gyarfas Name: Vera de Gyarfas Title: General Counsel

View Full Filing

View this 8-K filing on SEC EDGAR