secwatch.observer — SEC 8-K summary
======================================

Issuer:     OPAL Fuels Inc. (OPAL)
CIK:        0001842279
Form:       8-K
Filed at:   2026-05-20T20:18:47+00:00
Accession:  0001628280-26-036906
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OPAL Fuels amends Series A-1 Preferred: dividend rate to 12%, PIK cap at 2%
---------------------------------------------------------------------------

- Annual dividend rate increased from 8% to 12%, compounding quarterly; PIK limited to 2% per annum, remainder cash.
- Change of control definition revised; mandatory redemption triggers now include uncured Trigger Event or 5th anniversary of March 2026.
- New Trigger Event framework with penalty rate of 0.50% per quarter (max 4% annual) if material breach or lender acceleration.
- Removal of delayed redemption conversion rights; holders retain rights with new protective provisions and restrictions.
- Expanded protective provisions require consent for debt above limit, senior/pari passu issuances, affiliate transactions, etc.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1842279/000162828026036906/0001628280-26-036906-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1842279/000162828026036906/opal-20260518.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-036906

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