secwatch.observer — SEC 8-K summary
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Issuer:     NextDecade Corp (NEXT)
CIK:        0001612720
Form:       8-K
Filed at:   2025-01-06T23:59:59+00:00
Accession:  0001628280-25-000454
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1612720/000162828025000454/0001628280-25-000454-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1612720/000162828025000454/next-20241231.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-000454

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