NextDecade Reports New Material Agreement & Financial Obligation

TL;DR

**NextDecade just took on new debt or a major contract, watch for details on what it is!**

AI Summary

NextDecade Corp. filed an 8-K on February 9, 2024, to report entering into a material definitive agreement and the creation of a direct financial obligation. This filing indicates that the company has undertaken new financial commitments, which could impact its future liquidity and operational flexibility. For investors, this means NextDecade is likely expanding or financing a significant project, which could be a positive sign for growth but also introduces new debt or obligations that need to be managed.

Why It Matters

This filing signals new financial commitments for NextDecade, which could fuel growth projects but also adds to the company's debt profile, impacting its financial health.

Risk Assessment

Risk Level: medium — The filing indicates new financial obligations without specifying the amount or nature, which introduces uncertainty about the company's future financial health.

Analyst Insight

Investors should await further disclosures from NextDecade Corp. to understand the specifics of the material definitive agreement and the financial obligation, as these details will determine the true impact on the company's financial health and future prospects.

Key Players & Entities

• NextDecade Corp. (company) — the registrant filing the 8-K
• February 9, 2024 (date) — date of the earliest event reported
• 001-36842 (other) — Commission File Number for NextDecade Corp.
• Delaware (other) — State of Incorporation for NextDecade Corp.
• 1000 Louisiana Street, Suite 3900, Houston, Texas 77002 (other) — Address of Principal Executive Offices for NextDecade Corp.

FAQ

From the Filing

0001437749-24-003758.txt : 20240212 0001437749-24-003758.hdr.sgml : 20240212 20240212161827 ACCESSION NUMBER: 0001437749-24-003758 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240209 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: 20240212 DATE AS OF CHANGE: 20240212 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: 24620191 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 next20240209_8k.htm FORM 8-K next20240209_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): February 9, 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 February 9, 2024, Rio Grande LNG, LLC, a Texas limited liability company (“ RGLNG ”) and an indirect subsidiary of NextDecade Corporation (“ NextDecade ” or the “ Company ”), issued and sold $190 million aggregate principal amount of 6.85% Senior Secured Notes due 2047 (the “ Notes ”) pursuant to an indenture, dated as of such date, between RGLNG and Wilmington Trust, National Association, as Trustee (the “ Indenture ”). The sale of the Notes was not registered under the Securities Act of 1933 (the “ Securities Act ”), and the Notes were sold in a private placement in