Nextdecade SEC Filings

Hanwha Aerospace Co., Ltd., identified as a director of NextDecade Corp (NEXT), reported open-market purchases of the company’s common stock over three consecutive days. On 11/17/2025 it bought 295,875 shares at a weighted average price of $5.8683, on 11/18/2025 it bought 462,576 shares at $5.9247, and on 11/19/2025 it bought 305,973 shares at $6.0362.

After these transactions, the form lists 20,898,622 shares of common stock beneficially owned directly and 17,536,369 shares beneficially owned indirectly. The notes state that the prices reflect weighted averages over ranges of individual trade prices and that Hanwha Aerospace disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest. The filing also notes that Hanwha Aerospace may be deemed part of a group that beneficially owns more than 10% of NextDecade’s outstanding common stock, while disclaiming membership in any such group.

NextDecade Corp (NEXT)11/17/2025 in several securities linked to NextDecade common stock.

In Table II, the reporting persons show Tranche C Warrants with an exercise price of $9.3, tied to 818,171 shares of common stock, with one line coded as a disposition and another as an acquisition, with expiration dates in 2030 and 2032. They also report Series A-1 Loans and Series A-2 Loans, each treated as derivative securities with a conversion or exercise price of $9.5, linked to 1,587,947 and 452,059 shares of common stock, respectively, exercisable from 11/17/2025 and expiring on 11/17/2030. All positions are reported as indirectly owned, with detailed footnotes and joint filer information incorporated by reference to attached exhibits.

NextDecade Corporation entered into an amended and restated credit agreement through its subsidiary Rio Grande LNG Super Holdings, LLC, adding an incremental $50 million Series A term loan and recharacterizing $50 million of existing principal as Series A loans. These Series A loans mature on November 17, 2030, bear interest at 8.0% per annum, and are exchangeable into NextDecade common stock at $9.50 per share. Remaining principal under the prior facility is now Series B loans, which mature on October 16, 2030 and accrue interest at 13.5% per annum, with detailed prepayment premium schedules for both series.

The agreement is secured by equity and substantially all personal property of Super Holdings and removes a prior obligation to offer full prepayment tied to earlier financing transactions. In connection with this refinancing, NextDecade extended the exercise periods of existing Tranche A/B and Tranche C warrants, granted registration rights for shares issuable under the warrants and exchange feature, and expanded governance rights for lender General Atlantic, including the right to nominate one director candidate and maintain a board observer role subject to loan and equity value thresholds.

Hanwha Aerospace Co., Ltd. filed a Form 4 reporting open-market purchases of NextDecade Corp (NEXT) common stock. On 11/13/2025 it bought 460,334 shares at a weighted average price of $6.0826, bringing its directly held stake to 19,589,868 shares. On 11/14/2025 it bought another 244,330 shares at a weighted average price of $6.0886, increasing its direct holdings to 19,834,198 shares. The filing also notes indirect beneficial ownership of 17,536,369 shares held through Hanwha Ocean LLC and states that Hanwha Aerospace may be deemed part of a group that beneficially owns over 10% of NextDecade’s common stock, while disclaiming both group status and full beneficial ownership.

NextDecade (NEXT): Insider purchase reported. Hanwha Aerospace Co., Ltd. filed a Form 4 showing an open‑market purchase of 591,837 shares of NextDecade common stock on 11/11/2025 at a weighted average price of $6.0685 per share.

Following the transaction, the filing lists 19,129,534 shares beneficially owned directly and 17,536,369 shares indirectly through Hanwha Ocean LLC. The filer disclaims beneficial ownership beyond its pecuniary interest and notes it may be deemed part of a “group” that beneficially owns more than 10% of the common stock.

NextDecade (NEXT) reported Q3 2025 results and major project milestones. The company posted a net loss attributable to common stockholders of $109.5 million (basic and diluted $0.42 per share) with no revenue as construction continues. Operating expenses were $72.0 million, including $66.1 million of general and administrative expense. Other items included a $74.1 million derivative loss and $40.3 million interest expense. Cash, cash equivalents and restricted cash totaled $744.7 million at quarter‑end; debt, net, was $6.61 billion. Property, plant and equipment, net, reached $8.47 billion, reflecting Rio Grande LNG build‑out.

Construction progressed: Trains 1–2 and common facilities were 55.9% complete, and Train 3 was 33.4% complete as of September 2025. The company reached FID on Train 4 on September 9, 2025 and on Train 5 on October 16, 2025, each with total project costs expected at $6.7 billion. Subsequent events included Train 5 financing and a FERC remand order becoming final on October 30, 2025, enabling interest rate swaps effectiveness and availability under the FinCo facility.

NextDecade (NEXT) reported insider equity activity. The Interim CFO filed a Form 4 showing two acquisitions of common stock at $0October 16, 2025 tied to restricted stock units (RSUs) and milestone achievement.

The filing lists 20,860 shares from RSUs that vested upon a milestone and 20,861 shares from RSUs that became earned upon the same milestone. The earned RSUs vest in two near-equal annual installments beginning October 16, 2026. Following these transactions, the reporting person beneficially owned 510,415 shares, held directly.

NextDecade (NEXT) reported insider equity activity by its General Counsel. On October 16, 2025, 49,668 restricted stock units vested upon achievement of a milestone-based performance criterion, and the company withheld 19,545 shares at $6.11 to cover taxes. An additional 49,669 RSUs became earned the same day and are scheduled to vest in two near-equal annual installments beginning October 16, 2026. Following these transactions, the reporting person directly held 982,033 shares.

NextDecade Corp (NEXT) reported insider equity activity by its Chief Operating Officer on a Form 4. On October 16, 2025, 49,668 restricted stock units vested upon achievement of a milestone-based performance criterion. To cover taxes, 16,682 shares of common stock were withheld at $6.11 per share (Transaction Code F). The filing also notes 49,669 additional RSUs became earned upon the same milestone; these RSUs vest in two near-equal annual installments beginning October 16, 2026.

Following the reported transactions, the officer beneficially owned 281,848 shares of common stock, held directly. These entries use Transaction Code A for RSU-related acquisitions at $0 price.