TotalEnergies to acquire 17.5% of NextDecade for $219.4M; GIP becomes majority investor in RGLNG Phase 1

NextDecade Corp

TotalEnergies to purchase 17.5% of NextDecade common stock in three tranches for aggregate ~$219.4M; first tranche of $40M closed June 14.
Second tranche of $110M at $4.9837/share triggers after FID; third tranche conditioned on shareholder approval.
TotalEnergies commits to 5.4 MTPA LNG offtake for 20 years from Phase 1 (Trains 1-3), FOB, Henry Hub index.
GIP to become majority investor in Rio Grande LNG Phase 1; both GIP and TotalEnergies have options for Trains 4, 5, and CCS.
NextDecade targets FID on Phase 1 by end of Q2 2023, supported by these framework agreements.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NextDecade Corp entered into Stock Purchase Agreement with Global LNG North America Corp., an affiliate of TotalEnergies SE (effective 2023-06-13).

Action: entry
Agreement: equity purchase
Counterparty: Global LNG North America Corp., an affiliate of TotalEnergies SE
Effective: 2023-06-13

Exact text from the filing

On June 13, 2023, NextDecade Corporation, a Delaware corporation (the “ Company ”), entered into a common stock purchase agreement (the “ Stock Purchase Agreement ”) for three private placements (each, a “ Private Placement ”) with Global LNG North America Corp., a Delaware corporation (the “ Purchaser ”) and an affiliate of TotalEnergies SE, pursuant to which the Company agreed to sell, and Purchaser agreed to purchase, (i) an aggregate of 8,026,165 shares (the “ Tranche 1 Shares ”) of the Company’s common stock, par value $0.0001 per share (the “ Common Stock ”), at a purchase price of $4.9837 per share, for an aggregate purchase price of $39,999,998.51

View on SEC.gov

289 material agreements filed in the last 30 days. Browse all material agreements →

NextDecade Corp filing history →

Source: SEC EDGAR

accession 0001437749-23-017430

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.