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NEXT

NextDecade

$6.31

0.03 (0.48%)

08:14
08/07/18
08/07
08:14
08/07/18
08:14

NextDecade sells $50M of convertible preferred stock

NextDecade Corporation announced that it has agreed to sell $50M of convertible preferred stock to HGC NEXT INV, LLC, and to funds and accounts managed by each of York Capital Management Global Advisors, LLC and its affiliates, Valinor Management, L.P. and Halcyon Capital Management LP. HGC, a wholly owned subsidiary of a leading Korean petrochemical company, will invest $35M, and the company's three largest stockholders, York, Valinor, and Halcyon, will invest $15M pursuant to backstop agreements dated April 11, 2018. These investments will be made in Series A Convertible Preferred Stock pursuant to the company's private offering approved at a Special Meeting of Stockholders on June 15, 2018. As part of its investment in NextDecade, HGC will receive one seat on the company's board of directors, and will also have the right to contribute up to $350M of project-level equity upon the final investment decision of NextDecade's Rio Grande LNG project. The company intends to use the proceeds of the Series A private offering to continue developing its Rio Grande LNG terminal facility and associated pipelines in South Texas and for general corporate purposes and working capital.

  • 09

    Aug

NEXT NextDecade
$6.31

0.03 (0.48%)

04/17/18
BOFA
04/17/18
INITIATION
Target $10
BOFA
Buy
NextDecade initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Julien Dumoulin-Smith initiated NextDecade with a Buy and $10 price target ahead of a host of 2018 catalysts. The analyst said NextDecade is a direct beneficiary of increased Global LNG demand and expects shares to move higher on the Final Investment Decision on Train 1 and 2 for the Rio Grande project.
04/17/18
WELS
04/17/18
INITIATION
Target $6
WELS
Market Perform
NextDecade initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Michael Webber started NextDecade with a Market Perform rating and $6 price target. The analyst says that while the company's location and cost advantage "make it interesting," he's waiting on material commercial progress.
01/04/18
STFL
01/04/18
INITIATION
Target $9
STFL
Hold
NextDecade initiated with a Hold at Stifel
Stifel analyst Benjamin Nolan started NextDecade with a Hold rating and $9 price target. The analyst believes the long-term contract gas market remains competitive and that there is risk of delay.
11/17/17
COWN
11/17/17
INITIATION
Target $12
COWN
Outperform
NextDecade initiated with an Outperform at Cowen
Cowen analyst Sam Margolin started NextDecade with an Outperform rating and $12 price target. The analyst views the company as a "ground floor" Liquefied Natural Gas opportunity and sees the FERC decision as a likely positive catalyst.

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FTNT

Fortinet

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POST

Post Holdings

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IMUX

Immunic

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  • 25

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PSTI

Pluristem

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PFNX

Pfenex

$6.57

-0.19 (-2.81%)

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  • 26

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INNT

Innovate Biopharmaceuticals

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-0.025 (-2.00%)

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Cancer Genetics

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Innovate Biopharmaceuticals

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CGIX

Cancer Genetics

$0.17

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NUVA

NuVasive

$57.07

-0.54 (-0.94%)

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  • 26

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DAN

Dana

$17.94

0.05 (0.28%)

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MTRN

Materion

$67.06

-0.54 (-0.80%)

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  • 26

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CGC

Canopy Growth

$40.20

-3.495 (-8.00%)

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MPLX

MPLX

$32.46

0.58 (1.82%)

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MDR

McDermott

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AXTA

Axalta Coating

$29.98

0.2 (0.67%)

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CORV

Correvio

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-0.13 (-5.42%)

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BMY

Bristol-Myers

$49.36

0.46 (0.94%)

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  • 25

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BMY

Bristol-Myers

$49.36

0.46 (0.94%)

, CELG

Celgene

$98.92

0.75 (0.76%)

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BMY

Bristol-Myers

$49.36

0.46 (0.94%)

CELG

Celgene

$98.92

0.75 (0.76%)

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  • 27

    Jun

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  • 03

    Sep

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    Sep

  • 04

    Dec

  • 25

    Mar

  • 04

    Apr

BMY

Bristol-Myers

$49.36

0.46 (0.94%)

, CELG

Celgene

$98.92

0.75 (0.76%)

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Breaking Hot Stocks news story on Bristol-Myers, Celgene »

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Bristol-Myers

$49.36

0.46 (0.94%)

CELG

Celgene

$98.92

0.75 (0.76%)

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  • 27

    Jun

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  • 03

    Sep

  • 16

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  • 04

    Dec

  • 25

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    Apr

ATNX

Athenex

$17.95

-0.06 (-0.33%)

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VSLR

Vivint Solar

$7.27

-0.15 (-2.02%)

07:00
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  • 27

    Jun

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TWNK

Hostess Brands

$13.89

0.065 (0.47%)

06:59
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Upgrade
Hostess Brands rating change  »

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