---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-005249"
form_type: "8-K"
ticker: "NEXT"
cik: "0001612720"
company_name: "NextDecade Corp"
filed_at: "2022-03-04T23:59:59+00:00"
generated_at: "2026-06-27T01:37:17.904640+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# NextDecade issues $5M Series C Preferred to TEP Next Decade, an Energy & Power affiliate

## Summary
- Sold 5,000 shares at $1,000 each for $5M; additional 100 shares as origination fee.
- Preferred pays 12% cumulative dividend, payable quarterly in cash or in-kind.
- Warrants attached: 0.071% of fully diluted common, exercise at $0.01/share, 3-year term.
- Mandatory conversion upon FID event or by March 2031; optional conversion if stock hits 175% of Series A/B conversion price.
- TEP Next Decade (Energy & Power Transition Partners affiliate) is the sole buyer.

## SEC filing metadata
- accession: 0001437749-22-005249
- form_type: 8-K
- ticker: NEXT
- cik: 0001612720
- company_name: NextDecade Corp
- filed_at: 2022-03-04T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1612720/000143774922005249/0001437749-22-005249-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1612720/000143774922005249/next20220302_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-005249
- JSON: https://secwatch.observer/filing/0001437749-22-005249.json
- Plain text: https://secwatch.observer/filing/0001437749-22-005249.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.