NextDecade Announces $85 Million Private Placement of Common Stock
September 15 2022 - 8:30AM
Business Wire
NextDecade Corporation (“NextDecade or the “Company”) (NASDAQ:
NEXT) today announced a private placement of common stock pursuant
to which NextDecade will sell $85 million of common stock to 10
institutional investors. Shares of NextDecade’s common stock will
be sold at $5.50 per share, and the private placement is expected
to close on September 19, 2022, subject to the satisfaction of
customary closing conditions.
The Company intends to use the proceeds from the private
placement to continue development activity in preparation for its
anticipated positive final investment decision on the first three
trains at its Rio Grande LNG project.
Credit Suisse Securities (USA) LLC is acting as exclusive
placement agent for the private placement.
The offer and sale of the common stock has not been, and will
not be, registered under the Securities Act of 1933, as amended
(the “Securities Act”), or any other securities laws, and the
common stock cannot be offered or sold except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and any other
applicable securities laws. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities, in any state or jurisdiction
in which such offer, solicitation or sale of these securities would
be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About NextDecade Corporation
NextDecade Corporation is an energy company accelerating the
path to a net-zero future. Leading innovation in more sustainable
LNG and carbon capture solutions, NextDecade is committed to
providing the world access to cleaner energy. Through our wholly
owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions, we are
developing a 27 MTPA LNG export facility in South Texas along with
one of the largest carbon capture and storage projects in North
America. We are also working with third-party customers around the
world to deploy our proprietary processes to lower the cost of
carbon capture and storage and reduce CO2 emissions at their
industrial-scale facilities. NextDecade’s common stock is listed on
the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is
headquartered in Houston, Texas. For more information, please visit
www.next-decade.com.
NextDecade Forward-Looking Information
This press release contains forward-looking statements within
the meaning of U.S. federal securities laws. The words
“anticipate,” “contemplate,” “estimate,” “expect,” “project,”
“plan,” “intend,” “believe,” “may,” “might,” “will,” “would,”
“could,” “should,” “can have,” “likely,” “continue,” “design,”
“assume,” “budget,” “guidance,” and “forecast” and other words and
terms of similar expressions are intended to identify
forward-looking statements, and these statements may relate to the
business of NextDecade and its subsidiaries. These statements have
been based on assumptions and analysis made by NextDecade in light
of current expectations, perceptions of historical trends, current
conditions and projections about future events and trends and
involve a number of known and unknown risks, which may cause actual
results to differ materially from expectations expressed or implied
in the forward-looking statements. These risks include NextDecade’s
progress in the development of its LNG liquefaction and export
projects and CCS projects and the timing of that progress; the
timing of achieving a final investment decision on the Rio Grande
LNG terminal (the “Terminal”); reliance on third-party contractors
to successfully complete the Terminal, the pipeline to supply gas
to the Terminal and any CCS projects; ability to develop NCS’
business though implementation of CCS projects; ability to secure
additional debt and equity financing in the future to complete the
Terminal and CCS projects on commercially acceptable terms;
accuracy of estimated costs for the Terminal and CCS projects;
ability to achieve operational characteristics of the Terminal and
CCS projects, when completed, including liquefaction capacities and
amount of CO2 captured and stored, and any differences in such
operational characteristics from expectations; development risks,
operational hazards and regulatory approvals applicable to
NextDecade’s development, construction and operation activities and
those of its third-party contractors and counterparties;
technological innovation which may lessen NextDecade’s anticipated
competitive advantage or demand for its offerings; global demand
for and price of LNG; availability of LNG vessels worldwide;
changes in legislation and regulations relating to the LNG and CCS
industries, including environmental laws and regulations that
impose significant compliance costs and liabilities; scope of
implementation of carbon pricing regimes aimed at reducing
greenhouse gas emissions; global development and maturation of
emissions reduction credit markets; adverse changes to existing or
proposed carbon tax incentive regimes; global pandemics, including
the 2019 novel coronavirus pandemic, the Russia-Ukraine conflict,
other sources of volatility in the energy markets and their impact
on NextDecade’s business and operating results, including any
disruptions in its operations or development of the Terminal and
the health and safety of its employees, and on its customers, the
global economy and the demand for LNG; risks related to doing
business in and having counterparties in foreign countries;
NextDecade’s ability to maintain the listing of our securities on
the Nasdaq Capital Market or another securities exchange or
quotation medium; changes adversely affecting the businesses in
which NextDecade is engaged; management of growth; general economic
conditions; ability to generate cash; and the result of future
financing efforts and applications for customary tax incentives;
and other matters discussed in the “Risk Factors” section of
NextDecade’s most recent Annual Report on Form 10-K and subsequent
reports filed with the Securities and Exchange Commission.
Additionally, any development of the Terminal or CCS projects
remains contingent upon completing required commercial agreements,
securing all financing commitments and potential tax incentives,
achieving other customary conditions and making a final investment
decision to proceed. The forward-looking statements in this press
release speak as of the date of this release. Although NextDecade
believes that the expectations reflected in these forward-looking
statements are reasonable, it can give no assurance that the
expectations will prove to be correct. NextDecade may from time to
time voluntarily update its prior forward-looking statements,
however, it disclaims any commitment to do so except as required by
securities laws.
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IR@next-decade.com communications@next-decade.com
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