NextDecade Enters Material Agreement, Financial Obligation

TL;DR

**NextDecade just took on new financial obligations, watch for details on what it means for their projects.**

AI Summary

NextDecade Corp. filed an 8-K on January 3, 2024, reporting an event that occurred on December 28, 2023. The filing indicates the company entered into a material definitive agreement and created a direct financial obligation or an off-balance sheet arrangement. This matters to investors because such agreements and obligations can significantly impact the company's financial health, future projects, and overall valuation, potentially affecting stock performance.

Why It Matters

This filing signals a new financial commitment or agreement for NextDecade, which could be a step forward for a project like the Rio Grande LNG facility, but also introduces new financial risks or opportunities.

Risk Assessment

Risk Level: medium — The filing indicates new financial obligations and material agreements without specific details, creating uncertainty about their nature and potential impact on the company's financial health.

Analyst Insight

A smart investor would await further details on the 'material definitive agreement' and 'direct financial obligation' to understand the specific terms, potential benefits, and risks before making any investment decisions. This filing is a flag for upcoming news.

Key Players & Entities

• NextDecade Corp. (company) — the registrant filing the 8-K
• December 28, 2023 (date) — date of the earliest event reported
• January 3, 2024 (date) — date the 8-K was filed
• Delaware (company) — state of incorporation for NextDecade Corp.
• 001-36842 (dollar_amount) — Commission File Number for NextDecade Corp.
• 46-5723951 (dollar_amount) — IRS Employer Identification No. for NextDecade Corp.
• 1000 Louisiana Street, Suite 3900, Houston, Texas 77002 (company) — address of Principal Executive Offices for NextDecade Corp.
• 713-574-1880 (dollar_amount) — Registrant’s Telephone Number for NextDecade Corp.
• NEXT (company) — Trading Symbol for NextDecade Corp.
• The Nasdaq Stock Market LLC (company) — exchange where NextDecade Corp.'s Common Stock is registered

FAQ

From the Filing

0001437749-24-000291.txt : 20240103 0001437749-24-000291.hdr.sgml : 20240103 20240103090812 ACCESSION NUMBER: 0001437749-24-000291 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240103 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant FILED AS OF DATE: 20240103 DATE AS OF CHANGE: 20240103 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NextDecade Corp. CENTRAL INDEX KEY: 0001612720 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS TRANSMISSION & DISTRIBUTION [4923] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 465723951 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36842 FILM NUMBER: 24504501 BUSINESS ADDRESS: STREET 1: 1000 LOUISIANA STREET STREET 2: SUITE 3900 CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: 7135741880 MAIL ADDRESS: STREET 1: 1000 LOUISIANA STREET STREET 2: SUITE 3900 CITY: HOUSTON STATE: TX ZIP: 77002 FORMER COMPANY: FORMER CONFORMED NAME: Harmony Merger Corp. DATE OF NAME CHANGE: 20140703 8-K 1 next20240102_8k.htm FORM 8-K next20240102_8k.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): December 28, 2023 NEXTDECADE CORPORATION (Exact Name of Registrant as Specified in Charter) Delaware 001-36842 46-5723951 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) 1000 Louisiana Street, Suite 3900, Houston, Texas 77002 (Address of Principal Executive Offices) (Zip Code) (713) 574-1880 (Registrant’s Telephone Number, Including Area Code) N/A (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class: Trading Symbol Name of each exchange on which registered: Common Stock, $0.0001 par value NEXT The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 1.01 Entry into a Material Definitive Agreement. On December 28, 2023, Rio Grande LNG, LLC, a Texas limited liability company (“ RGLNG ”) and an indirect subsidiary of NextDecade Corporation (“ NextDecade ” or the “ Company ”) entered into a Credit Agreement (the “ Credit Agreement ”) by and among RGLNG, as borrower, Wilmington Trust, National Association, as the administrative agent (in such capacity, the “ Administrative Agent ”), Mizuho Bank (USA), as the P1 collateral agent (the “ P1 Collateral Agent ”), and the senior lenders party thereto (the “ Senior Lenders ”). The Credit Agreement provides for a