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

From the Filing

0001437749-24-000877.txt : 20240108 0001437749-24-000877.hdr.sgml : 20240108 20240108164418 ACCESSION NUMBER: 0001437749-24-000877 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240104 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 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240108 DATE AS OF CHANGE: 20240108 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: 24520747 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 next20240104_8k.htm FORM 8-K next20240104_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): January 4, 2024 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 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 Intermed