---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-016131"
form_type: "8-K"
ticker: "OPAL"
cik: "0001842279"
company_name: "OPAL Fuels Inc."
filed_at: "2026-03-09T23:59:59+00:00"
generated_at: "2026-05-15T18:08:54.492436+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# OPAL Fuels closes $180M preferred facility with Fortistar; redeems $100M existing preferred

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-26-016131
- form_type: 8-K
- ticker: OPAL
- cik: 0001842279
- company_name: OPAL Fuels Inc.
- filed_at: 2026-03-09T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 3.02, 2.03, 1.01, 5.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1842279/000162828026016131/0001628280-26-016131-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1842279/000162828026016131/opal-20260306.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-016131
- JSON: https://secwatch.observer/filing/0001628280-26-016131.json
- Plain text: https://secwatch.observer/filing/0001628280-26-016131.txt

## Source-grounded claims
- claim_id: 3134aae76172cec00b8841e9a282f1f67b7848ee
  claim: OPAL Fuels Inc. incurred credit facility of approximately $128.4 million with Bank of America, N.A..
  evidence_excerpt: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1842279/000162828026016131/0001628280-26-016131-index.htm
- claim_id: a9ece668b39b9cc76c68ea95c48ac9c9e7bdbf7f
  claim: 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).
  evidence_excerpt: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1842279/000162828026016131/0001628280-26-016131-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.