3//SEC Filing
Bardin Hill Opportunistic Credit Fund II GP LLC 3
Accession 0001140361-25-028398
CIK 0001612720other
Filed
Jul 31, 8:00 PM ET
Accepted
Aug 1, 4:26 PM ET
Size
24.2 KB
Accession
0001140361-25-028398
Insider Transaction Report
Form 3
NextDecade CorpNEXT
Holdings
- (indirect: See notes)
Tranche C Warrants
Exercise: $9.30From: 2025-07-22Exp: 2030-05-14→ Common Stock (818,171 underlying)
Holdings
- (indirect: See notes)
Tranche C Warrants
Exercise: $9.30From: 2025-07-22Exp: 2030-05-14→ Common Stock (818,171 underlying)
Footnotes (5)
- [F1]This statement is being filed by the following Reporting Persons: Bardin Hill Opportunistic Credit Master (US) Fund II LP ("BH Opp Credit Master US II") and Bardin Hill Opportunistic Credit Fund II GP LLC ("BH Opp Credit II GP").
- [F2]Bardin Hill Investment Partners LP ("Bardin Hill") is the investment manager of BH Opp Credit Master US II and BH Opp Credit II GP is the general partner of BH Opp Credit Master US II. Investment decisions of Bardin Hill are made by one or more of its portfolio managers, including Jason Dillow, John Greene and Pratik Desai, each of whom has individual decision-making authority. Avinash Kripalani is a Partner at Bardin Hill and serves on the board of directors of the Issuer as Bardin Hill's representative.
- [F3]In connection with entering into the Amendment to the Credit Agreement, dated May 14, 2025, providing for an incremental term loan to the Issuer, the Issuer issued 818,171 warrants to purchase an equal number of shares of the Issuer, subject to adjustment (the "Tranche C Warrants") to BH Opp Credit Master US II. In accordance with the terms of the Tranche C Common Stock Purchase Warrant Agreement, dated May 14, 2025, BH Opp Credit Master US II acquired beneficial ownership of the Tranche C Warrants on July 22, 2025, the date on which the average of the Daily VWAP for the previous thirty (30) consecutive trading days exceeded the exercise price of the Tranche C Warrants. The Tranche C Warrants are exercisable for $9.30 per share, subject to adjustment, on a cashless basis, at any time prior to May 14, 2030.
- [F4]The Tranche C Warrants are subject to anti-dilution protection upon certain issuances of Company securities at an effective price below the fair market value of the Company's capital stock, as determined in accordance with the Tranche C Warrants, and customary adjustment for stock splits, reverse splits, mergers, combinations, and other similar corporate transactions.
- [F5]Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of its, his or her pecuniary interest.
Documents
Issuer
NextDecade Corp
CIK 0001612720
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0002079198
Filing Metadata
- Form type
- 3
- Filed
- Jul 31, 8:00 PM ET
- Accepted
- Aug 1, 4:26 PM ET
- Size
- 24.2 KB