New Fortress Energy enters TSA to issue $1.2B 12% notes, exchange $1.4B notes, raise $250M equity

New Fortress Energy Inc.

New Fortress Energy enters TSA with noteholders to refinance existing 2025/2026/2029 notes; issues $1.2B new 12% senior secured notes due 2029.
Private exchange of ~$1.4B of existing 2026 and 2029 notes for new notes; proceeds to redeem 2025 notes and for general corporate purposes.
Company commits to raise at least $250M common equity; supporting holders may elect 5% stock or 2% PIK commitment fee.
Series B Convertible Preferred Stock (4.8%, convertible at $9.9645) issued; controlled company status transition with Edens/Nardone resigning from Compensation Committee.
Company expects compliance with financial covenants through end of 2025, contingent on asset sales, PREPA payments, and Brazil/Nicaragua revenues.

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