next_CurrentFolio_424b3

Prospectus Supplement

    

Filed Pursuant to Rule 424(b)(3)

(to Prospectus dated October 11, 2017)

 

Registration No. 333‑220263

 

NextDecade Corporation

142,177,092 Shares of Common Stock

The following information supplements and amends the prospectus dated October 11, 2017 (the “Prospectus”) of NextDecade Corporation (the “Company”) relating to the offer and sale from time to time by the selling stockholders named therein (the “Selling Stockholders”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), which includes: (i) 103,071,893 shares of Common Stock issued to the Selling Stockholders, (ii) up to 12,031,895 shares of Common Stock that are issuable upon the exercise of warrants issued in connection with our initial public offering, which closed on March 23, 2015, and that are exercisable for one share of Common Stock at an exercise price of $11.50 per share (the “Warrants”), (iii) up to 19,573,304 shares of our Common Stock that are issuable to certain of our Selling Stockholders upon the Company achieving certain milestones (the “Contingent Shares”) and (iv) up to 7,500,000 restricted shares of Common Stock that are issuable to certain of our Selling Stockholders upon the Company’s achieving certain milestones (the “Restricted Stock”).

The purpose of this prospectus supplement is to modify the “Selling Stockholders” section of the Prospectus to (i) reflect the transfers of all shares of Common Stock previously held and offered under the Prospectus by York Select Investors Master Fund, L.P., York Select, L.P., and York Select Master Fund, L.P. to one of their York affiliates, York Select Strategy Master Fund, L.P.,  (ii) to replace each of the Transferors with York Select Strategy Master Fund, L.P. as a Selling Stockholder and (iii) update the holdings of the other Selling Stockholders included in the Prospectus as of the date of this prospectus supplement.  Each of the Transferors is listed as a Selling Stockholder in the Prospectus.

This prospectus supplement should be read in conjunction with the Prospectus, which is required to be delivered with this prospectus supplement. This prospectus supplement is qualified in its entirety by reference to the Prospectus except to the extent that the information herein modifies or supersedes the information contained in the Prospectus. Except as amended by this prospectus supplement, the “Selling Stockholders” section of the  Prospectus is not otherwise affected by this prospectus supplement.

Investing in our Common Stock involves risks. Please read “Risk Factors” on page 7 of the Prospectus to read about factors you should consider before investing in our securities.

Neither the Securities and Exchange Commission nor any state securities commission nor any other regulatory body has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.

The date of this prospectus supplement is November 17, 2017.

 

 


 

SELLING STOCKHOLDERS

The information appearing in the table below with respect to the Selling Stockholders supersedes in its entirety the information with respect to the Selling Stockholders appearing on page 10 of the Prospectus under the heading “Selling Stockholders.”

 

 

Before the Offering

 

 

 

After the Offering
(assuming the sale of all
shares that may be sold
hereunder)

Name and Address of
Beneficial Owner
(1) (†) 

    

Number of
Shares

    

Percentage of
Outstanding
Common
Stock

    

Maximum
Number of
Shares
To Be Offered

    

Number of
Shares

    

Percentage of
Outstanding
Common
Stock

Kathleen Eisbrenner(2)

 

8,685,633 

 

8.17 

%  

8,685,633 

 

— 

 

— 

Raymond Eisbrenner(3)

 

28,499 

 

 

28,499 

 

— 

 

— 

René van Vliet(4)

 

166,246 

 

 

166,246 

 

— 

 

— 

Alfonso Puga(5)

 

94,998 

 

 

94,998 

 

— 

 

— 

Benjamin Atkins(6)

 

92,623 

 

 

92,623 

 

— 

 

— 

Shaun Davison(7)

 

132,997 

 

 

132,997 

 

— 

 

— 

Krysta De Lima(8)

 

68,873 

 

 

68,873 

 

— 

 

— 

James Spencer

 

12,233 

 

 

12,233 

 

— 

 

— 

Eric S. Rosenfeld(9)

 

1,576,213 

 

1.48 

%  

1,576,213 

 

— 

 

— 

David D. Sgro(10)

 

274,625 

 

 

274,625 

 

— 

 

— 

Gregory Monahan(11)

 

118,869 

 

 

118,869 

 

— 

 

— 

Thomas Kobylarz(12)

 

53,285 

 

 

53,285 

 

— 

 

— 

John P. Schauerman(13)

 

30,186 

 

 

30,186 

 

— 

 

— 

Adam J. Semler(14)

 

22,686 

 

 

22,686 

 

— 

 

— 

Leonard B. Schlemm(15)

 

182,792 

 

 

244,299 

 

— 

 

— 

Joel Greenblatt(16)

 

30,186 

 

 

30,186 

 

— 

 

— 

Jeff Hastings(17)

 

201,240 

 

 

201,240 

 

— 

 

— 

NPIC Limited(18)

 

40,000 

 

 

40,000 

 

— 

 

— 

The K2 Principal Fund L.P.(19)

 

40,000 

 

 

40,000 

 

— 

 

— 

York Entities(20)

 

57,714,503 

 

54.31 

%  

57,714,503 

 

— 

 

— 

Valinor Entities(21)

 

19,497,563 

 

18.35 

%  

19,497,563 

 

— 

 

— 

Halcyon Entities(22)

 

9,531,153 

 

8.96 

%  

9,531,153 

 

— 

 

— 

GE Oil & Gas, LLC(23)

 

3,211,391 

 

3.02 

%  

3,211,391 

 

— 

 

— 

DKU 2013, LLC(24)

 

392,417 

 

 

392,417 

 

— 

 

— 

Covalent Capital Partners Master Fund, L.P.(25)

 

274,648 

 

 

274,648 

 

— 

 

— 

NexPoint Credit Strategies Fund(26)

 

815,555 

 

 

815,555 

 

— 

 

— 

J. Stephen Emerson IRA

 

26,476 

 

 

26,476 

 

— 

 

— 

J. Stephen Emerson Roth IRA

 

26,474 

 

 

26,474 

 

— 

 

— 


*     Less than one percent.

(†)  Except as otherwise indicated below, based on the information provided to us by the Selling Stockholders, none of the Selling Stockholders is a broker-dealer or an affiliate of a broker-dealer. Each of the Selling Stockholders listed below acquired the securities offered in this prospectus in the ordinary course of their business, and at the time of such acquisition, none were a party to any agreements, understandings or arrangements with any other persons, either directly or indirectly, to dispose of the securities offered hereby.

(1)

Unless otherwise indicated, the business address of each of the Selling Stockholders is c/o NextDecade Corporation, 3 Waterway Square Place, Suite 400, The Woodlands, Texas 77380.

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(2)

Upon completion of the Business Combination, Kathleen Eisbrenner became the Chief Executive Officer and a director of NextDecade Corporation. Prior to the Business Combination, she founded NextDecade, LLC and served as its Chairman, and Chief Executive Officer.

(3)

Raymond Eisbrenner is the husband of Kathleen Eisbrenner.

(4)

Upon completion of the Business Combination, René van Vliet became the Chief Operating Officer and a director of NextDecade Corporation. Prior to the Business Combination, he served as the Chief Operating Officer and Chief Project Officer of NextDecade, LLC.

(5)

Upon completion of the Business Combination, Alfonso Puga became the Chief Commercial Officer of NextDecade Corporation. Prior to the Business Combination, he served as the Chief Commercial Officer of NextDecade, LLC.

(6)

Upon completion of the Business Combination, Benjamin Atkins became the Chief Financial Officer of NextDecade Corporation. Prior to the Business Combination, he served as the Chief Financial Officer of NextDecade, LLC.

(7)

Upon completion of the Business Combination, Shaun Davison became the Senior Vice President, Development & Regulatory Affairs of NextDecade Corporation. Prior to the Business Combination, he served as the Senior Vice President, Development & Regulatory Affairs of NextDecade, LLC.

(8)

Upon completion of the Business Combination, Krysta De Lima became the General Counsel of NextDecade Corporation. Prior to the Business Combination, she served as the General Counsel of NextDecade, LLC.

(9)

Upon completion of the Business Combination, Eric S. Rosenfeld became a director of NextDecade Corporation. Prior to the Business Combination, he served as the Chairman and Chief Executive Officer of Harmony.  Beneficial ownership includes 90,744 shares held by the Rosenfeld Children’s Successor Trust, a trust established for Mr. Rosenfeld’s children.  Beneficial ownership includes 96,232 shares of Common Stock issuable upon exercise of warrants.

(10)

Upon completion of the Business Combination, David D. Sgro became a director of NextDecade Corporation. Prior to the Business Combination, he served as Chief Operating Officer, Secretary and director of Harmony.  Includes 2,606 shares of Common Stock issuable upon exercise of warrants.

(11)

Prior to the Business Combination, Gregory Monahan served as special advisor to Harmony. Beneficial ownership includes 1,128 shares of Common Stock issuable upon exercise of warrants.

(12)

Prior to the Business Combination, Thomas Kobylarz served as a director of Harmony. Beneficial ownership includes 505 shares of Common Stock issuable upon exercise of warrants.

(13)

Prior to the Business Combination, John P. Schauerman served as a director of Harmony. Beneficial ownership includes 7,500 shares of Common Stock issuable upon exercise of warrants.

(14)

Prior to the Business Combination, Adam J. Semler served as a director of Harmony.  Beneficial ownership includes 7,500 shares of Common Stock issuable upon exercise of warrants.

(15)

Prior to the Business Combination, Leonard B. Schlemm served as a director of Harmony.  Beneficial ownership includes 61,507 shares of Common Stock issuable upon exercise of warrants.

(16)

Prior to the Business Combination, Joel Greenblatt served as special advisor to Harmony.  Beneficial ownership includes 7,500 shares of Common Stock issuable upon exercise of warrants.

(17)

Prior to the Business Combination, Jeff Hastings served as special advisor to Harmony.  Beneficial ownership includes 50,000 shares of Common Stock issuable upon exercise of warrants.

2


 

(18)

The business address of NPIC Limited is 401 Bay Street, Suite 1900, P.O Box 19, Toronto, ON MSH 244.

(19)

The business address of The K2 Principal Fund, L.P. is 2 Bloor St West, Suite 801, Toronto, Ontario, M4W 3E2. Information derived from a Schedule 13G filed on April 23, 2015.

(20)

The business address of the York Entities is 767 Fifth Avenue New York, NY 10153. Consists of 12,588,035 shares of Company common stock held by York Credit Opportunities Investments Master Fund, L.P.; 2,514,671 shares of Company common stock held by York European Distressed Credit Fund II, L.P.; 13,524,492 shares of Company common stock held by York Multi-Strategy Master Fund, L.P.; 11,714,407 shares of Company common stock held by York Credit Opportunities Fund, L.P.; 9,211,476 shares of Company common stock held by York Capital Management, L.P.; and 8,161,422 shares of Company common stock held by York Select Strategy Master Fund L.P.

(21)

The business address of the Valinor Entities is 510 Madison Avenue, 25th Floor, New York, NY 10022. Consists of 10,372,993 shares of Company common stock held by Valinor Capital Partners Offshore Master Fund, L.P.;  4,808,255 shares of Company common stock held by VND Partners, L.P.; 3,820,133 shares of Company common stock held by Valinor Capital Partners SPV XIX, LLC; and 496,182 shares of Company common stock held by Valinor Capital Partners SPV XXII, LLC.

(22)

The business address of the Halcyon Entities is 477 Madison Avenue, 8th Floor, New York, NY 10022. Consists of 325,165 shares of Company common stock held by Halcyon Master Fund L.P.; 4,075,531 shares of Company common stock held by HCN L.P.; 2,644,188 shares of Company common stock held by Halcyon Mount Bonnell Fund LP; 1,743,333 shares of Company common stock held by Halcyon Energy, Power, and Infrastructure Capital Holdings LLC; and 635,436 shares of Company common stock held by First Series of HDML Fund I LLC. Beneficial ownership includes 107,500 shares of Company common stock issuable upon exercise of warrants held by Halcyon Master Fund L.P.

(23)

The business address of GE Oil & Gas, LLC is 4425 Westway Park Blvd., Westway 3, Houston, Texas 77041.

(24)

The business address of DKU 2013, LLC is c/o Lyrical Partners, L.P. 250 W. 55th Street, 37th Floor, New York, New York 10019.  Beneficial ownership includes 97,500 shares of Common Stock issuable upon exercise of warrants.

(25)

The business address of Covalent Capital Partners Master Fund, L.P. is Reservoir Woods, 930 Winter St STE 2800, Waltham, Massachusetts 02451. Beneficial ownership includes 92,417 shares of Common Stock issuable upon exercise of warrants.

(26)

The business address of NexPoint Credit Strategies Fund is 300 Crescent Court, Suite 700, Dallas, Texas 75021.

 

3


 

The information appearing in the table below with respect to the Selling Stockholders supersedes in its entirety the information with respect to the Selling Stockholders appearing on page 14 of the Prospectus under the heading “Selling Stockholders.” 

Name and Address of
Beneficial Owner
(1) (†)

    

Common
Stock
Currently
Outstanding

    

Common
Stock
Issuable
Upon
Exercise
of
Milestones

    

Common
Stock
Issuable
Upon
Achievement
of
Warrants

    

Restricted
Shares of
Common
Stock
Issuable
Upon
Achievement
of
Milestones
**

    

Total

    

Percentage of
Common
Stock

 

Kathleen Eisbrenner(2)

 

8,685,633 

 

— 

 

2,072,369 

 

2,093,579 

 

12,851,581 

 

8.84 

%

Raymond Eisbrenner(3)

 

28,499 

 

— 

 

31,351 

 

163,137 

 

222,987 

 

 

René van Vliet(4)

 

166,246 

 

— 

 

182,883 

 

951,627 

 

1,300,756 

 

 

Alfonso Puga(5)

 

94,998 

 

— 

 

104,504 

 

543,786 

 

743,288 

 

 

Benjamin Atkins(6)

 

92,623 

 

— 

 

101,892 

 

530,192 

 

724,707 

 

 

Shaun Davison(7)

 

132,997 

 

— 

 

146,306 

 

761,302 

 

1,040,605 

 

 

Krysta De Lima(8)

 

68,873 

 

— 

 

75,766 

 

394,246 

 

538,885 

 

 

James Spencer

 

12,233 

 

— 

 

1,712 

 

— 

 

13,945 

 

 

Eric S. Rosenfeld(9)

 

1,479,981 

 

96,232 

 

— 

 

— 

 

1,576,213 

 

1.08 

%

David D. Sgro(10)

 

272,019 

 

2,606 

 

— 

 

— 

 

274,625 

 

 

Gregory Monahan(11)

 

117,741 

 

1,128 

 

— 

 

— 

 

118,869 

 

 

Thomas Kobylarz(12)

 

52,780 

 

505 

 

— 

 

— 

 

53,285 

 

 

John P. Schauerman(13)

 

22,686 

 

7,500 

 

— 

 

— 

 

30,186 

 

 

Adam J. Semler(14)

 

15,186 

 

7,500 

 

— 

 

— 

 

22,686 

 

 

Leonard B. Schlemm(15)

 

182,792 

 

61,507 

 

— 

 

— 

 

244,299 

 

 

Joel Greenblatt(16)

 

22,686 

 

7,500 

 

— 

 

— 

 

30,186 

 

 

Jeff Hastings(17)

 

151,240 

 

50,000 

 

— 

 

— 

 

201,240 

 

 

NPIC Limited(18)

 

40,000 

 

— 

 

— 

 

— 

 

40,000 

 

 

The K2 Principal Fund L.P.(19)

 

40,000 

 

— 

 

— 

 

— 

 

40,000 

 

 

York Entities(20)

 

57,714,503 

 

— 

 

11,221,408 

 

— 

 

68,935,911 

 

47.40 

%

Valinor Entities(21)

 

19,497,563 

 

— 

 

3,500,169 

 

— 

 

22,997,732 

 

15.81 

%

Halcyon Entities(22)

 

9,423,653 

 

107,500 

 

1,633,413 

 

— 

 

11,164,566 

 

7.68 

%

GE Oil & Gas, LLC(23)

 

3,211,391 

 

— 

 

415,962 

 

— 

 

3,627,353 

 

2.49 

%

DKU 2013, LLC(24)

 

294,917 

 

97,500 

 

— 

 

— 

 

392,417 

 

 

Covalent Capital Partners Master Fund, L.P.(25)

 

182,231 

 

92,417 

 

— 

 

— 

 

274,648 

 

 

NexPoint Credit Strategies Fund(26)

 

815,555 

 

— 

 

85,569 

 

— 

 

901,124 

 

 

J. Stephen Emerson IRA

 

26,476 

 

— 

 

— 

 

— 

 

26,476 

 

 

J. Stephen Emerson Roth IRA

 

26,474 

 

— 

 

— 

 

— 

 

26,474 

 

 


*     Less than one percent.

**   Subject to adjustment based on outstanding shares of our Common Stock immediately preceding the respective milestone achievement dates for the restricted shares of common stock.

(†)  Except as otherwise indicated below, based on the information provided to us by the Selling Stockholders, none of the Selling Stockholders is a broker-dealer or an affiliate of a broker-dealer. Each of the Selling Stockholders listed below acquired the securities offered in this prospectus in the ordinary course of their business, and at the time of such acquisition, none were a party to any agreements, understandings or arrangements with any other persons, either directly or indirectly, to dispose of the securities offered hereby.

(1)

Unless otherwise indicated, the business address and related information of each beneficial owner is the same as noted in the corresponding footnote to the Selling Stockholders table.

4