New Fortress Energy Inc. Enters Material Definitive Agreement
Ticker: NFE · Form: 8-K · Filed: Nov 15, 2024 · CIK: 1749723
Sentiment: neutral
Topics: material-agreement, financial-obligation
TL;DR
NFE just signed a big deal, locking in new financial obligations.
AI Summary
On November 14, 2024, New Fortress Energy Inc. entered into a material definitive agreement, creating a direct financial obligation. The filing details this agreement and related financial obligations, with the company incorporated in Delaware and headquartered in New York.
Why It Matters
This filing indicates a significant new financial commitment or obligation for New Fortress Energy Inc., which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and new financial obligations can introduce financial risks and operational changes that warrant careful consideration.
Key Players & Entities
- New Fortress Energy Inc. (company) — Registrant
- November 14, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of Incorporation
- New York, NY (location) — Principal Executive Offices Address
FAQ
What type of material definitive agreement did New Fortress Energy Inc. enter into?
The filing indicates the entry into a material definitive agreement and the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific details of the agreement are not provided in this excerpt.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on November 14, 2024.
Where is New Fortress Energy Inc. incorporated?
New Fortress Energy Inc. is incorporated in Delaware.
What is the principal executive office address for New Fortress Energy Inc.?
The principal executive office is located at 111 W. 19th Street, 8th Floor, New York, NY 10011.
What is the SEC file number for New Fortress Energy Inc.?
The SEC file number for New Fortress Energy Inc. is 001-38790.
Filing Stats: 1,124 words · 4 min read · ~4 pages · Grade level 13.9 · Accepted 2024-11-15 16:32:00
Key Financial Figures
- $0.01 — stered Class A Common Stock, par value $0.01 per share "NFE" NASDAQ Global Select
- $4.5 billion — gregate principal amount not to exceed R$4.5 billion to be used to reimburse expenses or deb
Filing Documents
- nfe-20241114.htm (8-K) — 31KB
- 0001749723-24-000118.txt ( ) — 153KB
- nfe-20241114.xsd (EX-101.SCH) — 2KB
- nfe-20241114_lab.xml (EX-101.LAB) — 21KB
- nfe-20241114_pre.xml (EX-101.PRE) — 12KB
- nfe-20241114_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. Credit Agreement Amendment On November 14, 2024, New Fortress Energy Inc. (the "Company") entered into the Second Amendment to Credit Agreement (the "Second Amendment"), by and among the Company, as the borrower, the guarantors party thereto, the lenders party thereto and Morgan Stanley Senior Funding Inc., as administrative agent and as collateral agent, which amends that certain Credit Agreement, dated as of July 19, 2024 (as amended, restated or otherwise modified from time to time, the "Existing TLA" and the Existing TLA as amended by the Second Amendment, the "Amended TLA"), by and among the Company, as the borrower, the guarantors from time to time party thereto, the several lenders from time to time party thereto and Morgan Stanley Senior Funding Inc., as administrative agent and as collateral agent. The Second Amendment, among other things, modifies the definition of Excluded Assets (as such term is defined in the Existing TLA) to permit the pledge of equity in certain subsidiaries that are Unrestricted Subsidiaries under the Existing TLA to secure the obligations thereunder. The Amended TLA excludes certain assets of the Company's Brazil business from the definition of Excluded Assets. PortoCem Debentures On November 14, 2024, PortoCem Gerao de Energia S.A., an indirect subsidiary of the Company ("PortoCem") has filed for registration of an offer to issue debentures, to be sold with the Brazilian Development Bank ("BNDES") acting as coordinator ("PortoCem Debentures") in an aggregate principal amount not to exceed R$4.5 billion to be used to reimburse expenses or debt and fund remaining construction capital expenditures and uses for the PortoCem Power Plant. The existing PortoCem bridge loan facility is expected to be concurrently repaid upon the issuance of the PortoCem Debentures. The PortoCem Debentures contains customary affirmative and negative covenants, events of defaults, prepayment an
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. Exhibit No. Description 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
SIGNATURES
SIGNATURES 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. NEW FORTRESS ENERGY INC. Date: November 15, 2024 By: /s/ Christopher S. Guinta Name: Christopher S. Guinta Title: Chief Financial Officer