NextDecade Corp (NEXT): debt financing — NextDecade subsidiary closes $50M incremental term loan; issues warrants for 2M shares

NextDecade Corp

Rio Grande LNG Super Holdings borrows additional $50M under existing credit agreement for working capital and LNG trains 4 and 5 development.
Incremental loan has same terms as $175M original loan: interest, maturity, prepayment, and security unchanged.
NextDecade issues Tranche C Warrants for 2,045,428 shares at $9.30 exercise price (30% premium to 30-day VWAP), cashless exercise, expires May 2030.
Lender includes Bardin Hill fund; director Avinash Kripalani recused from board vote due to affiliation.
Amended registration rights require NextDecade to file resale registration statement within 12 months of closing.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

NextDecade Corp incurred term loan of incremental $50,000,000 term loan with Rio Grande LNG Super Holdings, LLC as borrower; Atlantic Park Strategic Capital Master Fund II, L.P. as administrative agent and collateral agent; lenders including a fund managed by Bardin Hill Investment Partners, LP at same interest rates as the Original Term Loan maturing same maturity date as the Original Term Loan.

Instrument: term loan
Principal: incremental $50,000,000 term loan
Counterparty: Rio Grande LNG Super Holdings, LLC as borrower; Atlantic Park Strategic Capital Master Fund II, L.P. as administrative agent and collateral agent; lenders including a fund managed by Bardin Hill Investment Partners, LP
Rate: same interest rates as the Original Term Loan
Maturity: same maturity date as the Original Term Loan
Event: incurrence

Exact text from the filing

The Amendment provides for an incremental $50,000,000 term loan (the “ Incremental Term Loan ”) to Super Holdings to be used for general corporate purposes and working capital requirements of NEXT and its subsidiaries, including development costs related to the fourth and fifth liquefaction trains and related common facilities at the Rio Grande LNG multi-plant integrated natural gas liquefaction and liquefied natural gas export terminal facility at the Port of Brownsville in southern Texas (the “ Rio Grande LNG Facility ”), and to pay fees and related transaction expenses associated with the Incremental Term Loan.

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Source: SEC EDGAR

accession 0001628280-25-025967

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