secwatch.observer — SEC 8-K summary
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Issuer:     NextDecade Corp (NEXT)
CIK:        0001612720
Form:       8-K
Filed at:   2025-05-15T23:59:59+00:00
Accession:  0001628280-25-025967
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

NextDecade subsidiary closes $50M incremental term loan; issues warrants for 2M shares
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1612720/000162828025025967/0001628280-25-025967-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1612720/000162828025025967/next-20250514.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-025967

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