secwatch.observer — SEC 8-K summary
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Issuer:     NextDecade Corp (NEXT)
CIK:        0001612720
Form:       8-K
Filed at:   2025-11-18T23:59:59+00:00
Accession:  0001612720-25-000034
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02
LLM model:  deepseek-v4-flash:cloud@v2

NextDecade subsidiary amends credit agreement; adds $50M Series A loan at 8% exchangeable at $9.50
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- Incremental $50M Series A term loan + recharacterized $50M = $100M at 8%, quarterly PIK optional.
- Series A exchangeable into NextDecade common stock at $9.50/share; Tranche A/B warrants extended to 2031, C to 2032.
- Series B loans repriced to 13.5% interest, maturity extended to Oct 16, 2030; prepayment premiums from 105% to 100%.
- Prepayment offer obligation from Oct 2025 terminated; related party Bardin Hill fund is lender, director Kripalani recused.
- General Atlantic gets board nomination right for 2026 annual meeting; Matt Bonanno nominated as director.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1612720/000161272025000034/0001612720-25-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1612720/000161272025000034/next-20251117.htm
  HTML page:      https://secwatch.observer/filing/0001612720-25-000034

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer