NextDecade plans $85mn private placement
US LNG developer NextDecade said September 15 it would execute an $85mn private placement of its common shares with 10 institutional, with proceeds used to continue development activity and bring closer a final investment decision (FID) on the first three trains at its Rio Grande LNG project in Texas.
Shares of NextDecade will be sold at $5.50/share, with the private placement expected to close on September 19, subject to customary closing conditions.
On the heels of a flurry of sales and purchase agreements for offtake from Rio Grande LNG over this past summer, NextDecade anticipates making FID on the first of five trains before the end of this year. Sanctioning of the remaining four trains of the 27mn mt/yr facility would follow thereafter.