NextDecade Sells $50 Million in Convertible Stock

Posted on Aug 8, 2018 in Financing, Liquefaction, LNG Exports | Comments Off

NextDecade Corporation (NextDecade) announced that it has agreed to sell $50 million of convertible preferred stock: $35 million worth to HGC NEXT INV, LLC and $15 million worth to funds and accounts managed by each of York Capital Management Global Advisors, LLC and its affiliates, Valinor Management, L.P., and Halcyon Capital Management LP. According to the press release, NextDecade intends to use the proceeds of the stock sale to continue developing its proposed Rio Grande LNG terminal facility on the Brownsville, Texas, ship channel, associated pipelines in South Texas, and for general corporate purposes and working capital.

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NextDecade Sells $50 Million in Convertible Stock

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