secwatch.observer — SEC 8-K summary
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Issuer:     NextDecade Corp (NEXT)
CIK:        0001612720
Form:       8-K
Filed at:   2022-03-16T23:59:59+00:00
Accession:  0001437749-22-006343
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NextDecade raises $5.5M via Series C Convertible Preferred Stock sale to Avenue Energy
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- Sold 5,500 shares of Series C Preferred at $1,000 each plus 110 origination fee shares for total $5.5M.
- Series C Preferred carries 12% cumulative quarterly dividend, payable cash or in-kind; currently expected PIK.
- Warrants attached: right to buy common shares at $0.01 per share (approx. 0.0781% of diluted shares), exercisable after 3 years.
- Conversion price varies: 38,515 shares at $2.9632, 5,362 at $5.6216, 5,100 at $3.4056, new 5,610 at $4.6080.
- Company must convert all Series C Preferred upon FID event or by March 17, 2031.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1612720/000143774922006343/0001437749-22-006343-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1612720/000143774922006343/next20220311_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-006343

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