NextDecade secures $175M senior secured loan at 12% interest; issues 7.16M warrants to GA Credit

NextDecade Corp

$175M term loan entered Dec 31, 2024; matures Dec 2030; interest 12% p.a., quarterly PIK option for first 2 years.
Proceeds repay $50M revolver and $12.5M interest term loan; fund working capital and development of LNG Trains 4 & 5.
7.16M warrants issued to GA Credit: 3.58M exercisable at $7.15/share, 3.58M at $9.30/share; cashless exercise only, 5-year term.
GA Credit appoints Matt Bonanno (General Atlantic) as board observer until loan repaid or warrants exercised.
Registration rights granted for resale of shares underlying warrants; mandatory exercise triggers at certain stock prices.

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