NextDecade To Sell Convertible Preferred Stock To Funds Managed By BlackRock

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(RTTNews.com) - NextDecade Corp. (NEXT) said that it has agreed to sell Series B Convertible Preferred Stock to funds managed by BlackRock.

NextDecade noted that the investment by funds managed by BlackRock further strengthens NextDecade's capital position as it continues development of its Rio Grande LNG terminal facility and associated pipelines in South Texas. NextDecade is a liquefied natural gas development company focused on LNG export projects and associated pipelines in Texas, including the Rio Grande LNG export facility in Brownsville, Texas.

NextDecade and certain funds managed by BlackRock entered into a Series B Convertible Preferred Stock Purchase Agreement, which has been approved by NextDecade's board of directors. The Company will hold a special meeting of stockholders in September 2018 to consider the issuance of Series B Convertible Preferred Stock pursuant to the Series B Stock Purchase Agreement.

Read the original article on RTTNews (http://www.rttnews.com/2929362/nextdecade-to-sell-convertible-preferred-stock-to-funds-managed-by-blackrock.aspx)

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This article appears in: Politics , Stocks
Referenced Symbols: BLK ,

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