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NextDecade Corporation is a Houston-based developer of the Rio Grande LNG export facility in Brownsville, Texas. Trains 1–5 are under construction, with overall completion at June 2026 of 74.0% for Trains 1–2 and 50.4% for Train 3; Trains 4 and 5 were 15.5% and 9.4%. Management continues to expect first gas in the second half of 2026 and first LNG from Train 1 in the first half of 2027.
The business remains pre-revenue. For the quarter ended June 30, 2026, net loss attributable to common stockholders was $65,426 thousand, driven by an operating loss of $54,572 thousand, partially offset by a derivative gain of $116,075 thousand and offset by $90,777 thousand of interest expense and a $32,451 thousand loss on debt extinguishment. Year-to-date capital spending on property, plant and equipment reached $2,157,350 thousand, contributing to net cash used in investing activities of $2,203,393 thousand.
At June 30, 2026, total assets were $15,205,221 thousand, including $13,514,226 thousand of property, plant and equipment, and total debt was $10,335,911 thousand. Cash, cash equivalents and restricted cash were $499,569 thousand. The company added a $1.0 billion Phase 1 HoldCo term loan in June and, in July 2026, Phase 1 LLC issued $3.5 billion of senior secured notes to refinance construction credit facilities.
NextDecade Corp General Counsel Vera de Gyarfas reported a tax-withholding disposition of 51,935 shares of common stock on July 10, 2026, at $7.99 per share. The shares were withheld by the issuer to satisfy tax obligations from vesting restricted stock units, leaving her with 930,098 shares held directly.
NextDecade Corp Chief Executive Officer Matthew K. Schatzman had 266,531 shares of common stock withheld by the company at $7.99 per share on July 10, 2026 to satisfy tax obligations from vesting restricted stock units. After this non-market tax-withholding disposition, he directly holds 5,338,853 shares.
NextDecade Corp officer John Zuklic, Chief Financial Officer, filed an initial report on his position in the company’s common stock. The filing lists 0 shares of common stock owned directly following the reported holdings as of July 6, 2026.
NextDecade Corporation, through its subsidiary Rio Grande LNG, completed a multi‑tranche private offering of senior secured notes to institutional investors. Rio Grande LNG issued $1,000 million of 5.250% Notes due 2031, $500 million of 5.500% Notes due 2034, $1,250 million of 5.750% Notes due 2036, and $750 million of 6.150% Notes due 2041 under a new indenture.
Rio Grande LNG plans to use the net proceeds primarily to repay a portion of outstanding borrowings under existing credit agreements and to pay related fees and expenses. The notes are secured obligations ranking pari passu with other senior secured debt under a Common Terms Agreement and include covenants limiting additional indebtedness, restricted payments, asset sales, liens, and certain mergers or dissolutions.
The indenture also requires periodic financial reporting to the trustee and noteholders, with the company expecting to post Rio Grande LNG’s quarterly financial information on its website. In specified cases, including a change of control, Rio Grande LNG must offer to repurchase the notes at 101% or par, as detailed in the indenture.
NextDecade Corporation disclosed that its indirect subsidiary Rio Grande LNG Intermediate HoldCo Borrower, LLC entered a new $1.0 billion term loan facility. The borrower will primarily contribute the proceeds as equity to Rio Grande LNG, which will use them to reduce outstanding project borrowings and cover related fees and expenses.
The RGLNG HoldCo Loans bear interest at 7.05% per annum, payable semi-annually, with interest paid in kind until after the third anniversary unless cash payments are elected. The loans mature on June 17, 2033 and include call protection and step-down prepayment premiums through June 17, 2030.
The credit agreement includes customary covenants and events of default, requires a minimum debt service coverage ratio of 1.05:1.00, and is secured by equity interests in the borrowing entities and substantially all of the borrower’s real and personal property. A collateral and intercreditor agreement governs relationships among this facility and any future pari passu secured debt.
Brown Charles Q. Jr. reported acquisition or exercise transactions in this Form 4 filing.
NextDecade Corp director Charles Q. Brown Jr. reported receiving a grant of restricted common stock. The award covers 11,965 shares at a stated price of $0.00 per share, reflecting stock-based compensation rather than a market purchase.
According to the filing, all 11,965 shares will vest on January 31, 2027. After this grant, Brown’s direct holdings shown in the report total 11,965 shares of common stock, and no derivative securities are listed as remaining positions.
NextDecade Corp director David L. Stover received an equity grant of 20565.0000 shares of common stock as compensation. The Form 4 classifies this as a grant or award acquisition with no cash paid per share. These shares are restricted stock that will vest on January 31, 2027, and his directly owned holdings after the transaction total 20565.0000 shares. This is a routine compensation-related award rather than an open-market purchase or sale.
NextDecade Corp director Matthew W. Bonanno has filed an initial Form 3 reporting his beneficial ownership in the company. The filing shows direct ownership of 84,900 shares of Common Stock as of the reported date. This is a disclosure of existing holdings rather than a new purchase or sale of shares.
NextDecade Corp director Charles Q. Brown Jr. filed an initial Form 3 showing his beneficial ownership position in the company. The filing reports that he holds no shares of NextDecade Corp Common Stock directly as of the reporting date.