OPAL Fuels Inc. (OPAL): debt financing — OPAL Fuels closes $180M preferred facility with Fortistar; redeems $100M existing preferred

OPAL Fuels Inc.

Affiliate of Fortistar invested $120M at closing for 1.2M Series A Preferred Units ($100/unit); remaining $60M available.
Proceeds used to fully redeem ~$100M of Series A Preferred Units previously held by Mendocino Capital (NextEra subsidiary).
Issued warrant to investor to purchase up to 3M shares of Class A common stock, exercisable at VWAP+$0.50.
Preferred units pay 12% quarterly (compounding); OPAL may pay 1/6 in kind; units are senior except pari-passu with Hillman RNG.
Company also drew $128.4M under credit agreement to repay $20M revolver balance.

item 3.02 item 2.03 item 1.01 item 5.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

OPAL Fuels Inc. incurred credit facility of approximately $128.4 million with Bank of America, N.A..

Instrument: credit facility
Principal: approximately $128.4 million
Counterparty: Bank of America, N.A.
Event: incurrence

Exact text from the filing

OPAL Fuels Intermediate HoldCo LLC (the “ Borrower ”), a subsidiary of the Company, prior to the expiration of the delayed draw availability, recently drew down approximately $128.4 million under that certain Credit and Guarantee Agreement

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

OPAL Fuels Inc.: OPAL Fuels LLC approved and adopted an Amended and Restated Certificate of Designations of Series A Preferred Units, increasing dividend rates to 12% per annum, revising mandatory redemption provisions, and adding enhanced protective covenants and transfer restrictions (effective 2026-03-06).

Change: charter amendment
Effective: 2026-03-06

Exact text from the filing

on March 6, 2026, OPAL Fuels LLC approved and adopted an Amended and Restated Certificate of Designations of Series A Preferred Units (the " Amended Series A Certificate of Designations "). Among other things, the Amended Series A Certificate of Designations increased the dividend rates to 12% per annum (compounding quarterly) with a partial payment-in-kind option, revised the mandatory redemption provisions (including the addition of redemption triggers upon certain events or after the fifth anniversary of the issuance date), added enhanced protective covenants and transfer restrictions, and updated certain other terms and definitions to reflect the current transaction structure.

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36 debt financings filed in the last 30 days. Browse all debt financings →

OPAL Fuels Inc. filing history →

Source: SEC EDGAR

accession 0001628280-26-016131

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