NextDecade Corporation
|
(Name of Issuer)
|
Common Stock, par value $0.0001 per share
|
(Title of class of securities)
|
65342K105
|
(CUSIP number)
|
Owen Schmidt
Valinor Management L.P.
510 Madison Avenue, 25th Floor
New York, New York 10022
(212) 918-5226
With copies to:
Jackie Cohen
Weil, Gotshal & Manges, LLP
767 Fifth Avenue
New York, New York 10153
(212) 310-8000
|
(Name, address and telephone number of person authorized to receive notices and communications)
|
May 24, 2019
|
(Date of event which requires filing of this statement)
|
Schedule 13D
|
||
CUSIP No. 65342K105
|
||
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
|
|
|
|||
Valinor Capital Partners, L.P.
|
|
|
|||
|
|
||||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
|
☐
|
||
(b)
|
☐
|
||||
|
|
||||
3
|
SEC USE ONLY
|
|
|
||
|
|
|
|||
|
|
||||
4
|
SOURCE OF FUNDS (SEE INSTRUCTIONS)
|
|
|
||
OO
|
|
|
|||
|
|
||||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
|
|
☐
|
||
|
|
||||
|
|
||||
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
||
Delaware
|
|
|
|||
|
|
||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
|
|
|
|
0 (see Item 5)
|
|
|
|||
|
|
||||
8
|
SHARED VOTING POWER
|
|
|
||
4,178,872 (see Item 5)
|
|
|
|||
|
|
||||
9
|
SOLE DISPOSITIVE POWER
|
|
|
||
0 (see Item 5)
|
|
|
|||
|
|
||||
10
|
SHARED DISPOSITIVE POWER
|
|
|
||
4,178,872 (see Item 5)
|
|
|
|||
|
|
||||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
4,178,872 (see Item 5)
|
|
|
|||
|
|
||||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
☐
|
||
|
|
||||
|
|
||||
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
||
3.79% (see Item 5)
|
|
|
|||
|
|
||||
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
PN
|
|
|
|||
|
|
Schedule 13D
|
||
CUSIP No. 65342K105
|
||
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
|
|
|
|||
Valinor Capital Partners Offshore Master Fund, L.P.
|
|
|
|||
|
|
||||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
|
☐
|
||
(b)
|
☐
|
||||
|
|
||||
3
|
SEC USE ONLY
|
|
|
||
|
|
|
|||
|
|
||||
4
|
SOURCE OF FUNDS (SEE INSTRUCTIONS)
|
|
|
||
OO
|
|
|
|||
|
|
||||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
|
|
☐
|
||
|
|
||||
|
|
||||
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
||
Cayman Islands
|
|
|
|||
|
|
||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
|
|
|
|
0 (see Item 5)
|
|
|
|||
|
|
||||
8
|
SHARED VOTING POWER
|
|
|
||
11,888,688 (see Item 5)
|
|
|
|||
|
|
||||
9
|
SOLE DISPOSITIVE POWER
|
|
|
||
0 (see Item 5)
|
|
|
|||
|
|
||||
10
|
SHARED DISPOSITIVE POWER
|
|
|
||
11,888,688 (see Item 5)
|
|
|
|||
|
|
||||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
11,888,688 (see Item 5)
|
|
|
|||
|
|
||||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
☐ | ||
|
|
||||
|
|
||||
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
||
10.71% (see Item 5) |
|
|
|||
|
|
||||
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
PN
|
|
|
|||
|
|
Schedule 13D
|
||
CUSIP No. 65342K105
|
||
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
|
|
|
|||
VND Partners, L.P.
|
|
|
|||
|
|
||||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
|
☐
|
||
(b)
|
☐ | ||||
|
|
||||
3
|
SEC USE ONLY
|
|
|
||
|
|
|
|||
|
|
||||
4
|
SOURCE OF FUNDS (SEE INSTRUCTIONS)
|
|
|
||
OO
|
|
|
|||
|
|
||||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
|
|
☐ | ||
|
|
||||
|
|
||||
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
||
Delaware
|
|
|
|||
|
|
||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
|
|
|
|
0 (see Item 5)
|
|
|
|||
|
|
||||
8
|
SHARED VOTING POWER
|
|
|
||
4,813,971 (see Item 5)
|
|
|
|||
|
|
||||
9
|
SOLE DISPOSITIVE POWER
|
|
|
||
0 (see Item 5)
|
|
|
|||
|
|
||||
10
|
SHARED DISPOSITIVE POWER
|
|
|
||
4,813,971 (see Item 5)
|
|
|
|||
|
|
||||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
4,813,971 (see Item 5)
|
|
|
|||
|
|
||||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
☐ | ||
|
|
||||
|
|
||||
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
||
4.38% (see Item 5)
|
|
|
|||
|
|
||||
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
PN
|
|
|
|||
|
|
Schedule 13D
|
||
CUSIP No. 65342K105
|
||
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
|
|
|
|||
Valinor Associates, LLC
|
|
|
|||
|
|
||||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
|
☐ | ||
(b)
|
☐ | ||||
|
|
||||
3
|
SEC USE ONLY
|
|
|
||
|
|
|
|||
|
|
||||
4
|
SOURCE OF FUNDS (SEE INSTRUCTIONS)
|
|
|
||
OO
|
|
|
|||
|
|
||||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
|
|
☐ | ||
|
|
||||
|
|
||||
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
||
Delaware
|
|
|
|||
|
|
||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
|
|
|
|
0 (see Item 5)
|
|
|
|||
|
|
||||
8
|
SHARED VOTING POWER
|
|
|
||
20,881,531* (see Item 5)
|
|
|
|||
|
|
||||
9
|
SOLE DISPOSITIVE POWER
|
|
|
||
0 (see Item 5)
|
|
|
|||
|
|
||||
10
|
SHARED DISPOSITIVE POWER
|
|
|
||
20,881,531* (see Item 5)
|
|
|
|||
|
|
||||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
20,881,531* (see Item 5)
|
|
|
|||
|
|
||||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
☐ | ||
|
|
||||
|
|
||||
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
||
18.76%* (see Item 5)
|
|
|
|||
|
|
||||
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
OO
|
|
|
|||
|
|
Schedule 13D
|
||
CUSIP No. 65342K105
|
||
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
|
|
|
|||
Valinor Management, L.P.
|
|
|
|||
|
|
||||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
|
☐ | ||
(b)
|
☐ | ||||
|
|
||||
3
|
SEC USE ONLY
|
|
|
||
|
|
|
|||
|
|
||||
4
|
SOURCE OF FUNDS (SEE INSTRUCTIONS)
|
|
|
||
OO
|
|
|
|||
|
|
||||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
|
|
☐ | ||
|
|
||||
|
|
||||
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
||
Delaware
|
|
|
|||
|
|
||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
|
|
|
|
0 (see Item 5)
|
|
|
|||
|
|
||||
8
|
SHARED VOTING POWER
|
|
|
||
20,881,531* (see Item 5)
|
|
|
|||
|
|
||||
9
|
SOLE DISPOSITIVE POWER
|
|
|
||
0 (see Item 5)
|
|
|
|||
|
|
||||
10
|
SHARED DISPOSITIVE POWER
|
|
|
||
20,881,531* (see Item 5)
|
|
|
|||
|
|
||||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
20,881,531* (see Item 5)
|
|
|
|||
|
|
||||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
☐ | ||
|
|
||||
|
|
||||
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
||
18.76%* (see Item 5)
|
|
|
|||
|
|
||||
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
IA
|
|
|
|||
|
|
Schedule 13D
|
||
CUSIP No. 65342K105
|
||
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
|
|
|
|||
David Gallo
|
|
|
|||
|
|
||||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
|
☐ | ||
(b)
|
☐ | ||||
|
|
||||
3
|
SEC USE ONLY
|
|
|
||
|
|
|
|||
|
|
||||
4
|
SOURCE OF FUNDS (SEE INSTRUCTIONS)
|
|
|
||
OO
|
|
|
|||
|
|
||||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
|
|
☐
|
||
|
|
||||
|
|
||||
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
||
United States of America
|
|
|
|||
|
|
||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
|
|
|
|
0 (see Item 5)
|
|
|
|||
|
|
||||
8
|
SHARED VOTING POWER
|
|
|
||
20,881,531* (see Item 5)
|
|
|
|||
|
|
||||
9
|
SOLE DISPOSITIVE POWER
|
|
|
||
0 (see Item 5)
|
|
|
|||
|
|
||||
10
|
SHARED DISPOSITIVE POWER
|
|
|
||
20,881,531* (see Item 5)
|
|
|
|||
|
|
||||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
20,881,531* (see Item 5)
|
|
|
|||
|
|
||||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
☐
|
||
|
|
||||
|
|
||||
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
||
18.76%* (see Item 5)
|
|
|
|||
|
|
||||
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
IN
|
|
|
|||
|
|
Item 3. |
Source and Amount of Funds or Other Consideration.
|
Item 4. |
Purpose of Transaction.
|
ITEM 5. |
INTEREST IN SECURITIES OF THE ISSUER
|
ITEM 6. |
CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER
|
ITEM 7. |
MATERIAL TO BE FILED AS EXHIBITS
|
17
|
Series B Convertible Stock Purchase Agreement, dated as of May 17, 2019 (incorporated by reference to Exhibit 10.3 to the Current Report
on Form 8-K filed by the Issuer on May 20, 2019).
|
18
|
Certificate of Designations of Series B Convertible Preferred Stock (incorporated by reference to Exhibit 3.4 of the Issuer’s Quarterly
Report on Form 10-Q filed with the SEC on November 9, 2018).
|
19*
|
Warrant Agreement by and between Valinor Capital Partners, L.P. and the Issuer, dated as of May 24, 2019.
|
20*
|
Warrant Agreement by and between Valinor Capital Partners Offshore Master Fund, L.P. and the Issuer, dated as of May 24, 2019.
|
21*
|
Registration Rights Agreement, dated as of May 24, 2019, entered into by and among the Issuer and the Valinor Preferred Participants.
|
22*
|
Purchaser Rights Agreement, dated as of May 24, 2019, entered into by and among the Issuer and the Valinor Preferred Participants.
|
23*
|
Joint Filing Agreement as required by Rule 13d-1(k)(1) under the Exchange Act.
|
Date: May 29, 2019
|
Valinor Management, L.P.
|
||
By:
|
/s/ David Angstreich
|
Name:
|
David Angstreich
|
|
Title:
|
Chief Operating Officer
|
Date: May 29, 2019
|
David Gallo
|
|
/s/ David Gallo |
Date: May 29, 2019
|
Valinor Associates, LLC
|
||
By:
|
/s/ David Angstreich
|
Name:
|
David Angstreich
|
|
Title:
|
Chief Operating Officer
|
Date: May 29, 2019
|
Valinor Capital Partners Offshore Master Fund, L.P.
|
||
By:
|
/s/ David Angstreich
|
Name:
|
David Angstreich
|
|
Title:
|
Chief Operating Officer
|
Date: May 29, 2019
|
VND Partners, L.P.
|
||
By:
|
/s/ David Angstreich
|
Name:
|
David Angstreich
|
|
Title:
|
Chief Operating Officer
|
Date: May 29, 2019
|
Valinor Capital Partners, L.P.
|
||
By:
|
/s/ David Angstreich
|
Name:
|
David Angstreich
|
|
Title:
|
Chief Operating Officer
|
17
|
Series B Convertible Stock Purchase Agreement, dated as of May 17, 2019 (incorporated by reference to Exhibit 10.3 to the Current Report
on Form 8-K filed by the Issuer on May 20, 2019).
|
18
|
Certificate of Designations of Series B Convertible Preferred Stock (incorporated by reference to Exhibit 3.4 of the Issuer’s Quarterly
Report on Form 10-Q filed with the SEC on November 9, 2018).
|
Warrant Agreement by and between Valinor Capital Partners, L.P. and the Issuer, dated as of May 24, 2019.
|
|
Warrant Agreement by and between Valinor Capital Partners Offshore Master Fund, L.P. and the Issuer, dated as of May 24, 2019.
|
|
Registration Rights Agreement, dated as of May 24, 2019, entered into by and among the Issuer and the Valinor Preferred Participants.
|
|
Purchaser Rights Agreement, dated as of May 24, 2019, entered into by and among the Issuer and the Valinor Preferred Participants.
|
|
Joint Filing Agreement as required by Rule 13d-1(k)(1) under the Exchange Act.
|
Warrant No. 3
|
Void After May 24, 2022
|
NEXTDECADE CORPORATION
|
||
By:
|
/s/ Matthew Schatzman | |
Matthew Schatzman
|
||
|
President and Chief Executive Officer
|
To:
|
NextDecade Corporation
|
Warrant No. 4
|
Void After May 24, 2022
|
NEXTDECADE CORPORATION
|
||
By:
|
/s/ Matthew Schatzman | |
Matthew Schatzman
|
||
President and Chief Executive Officer
|
To:
|
NextDecade Corporation
|
NEXTDECADE CORPORATION
|
||
By:
|
/s/ Matthew Schatzman |
Name:
|
Matthew Schatzman
|
|
Title:
|
President and Chief Executive Officer
|
|
VALINOR CAPITAL PARTNERS L.P.
|
|
|
|
By: | /s/ Owen Schmidt |
|
Name: | Owen Schmidt |
|
Title: | Authorized Signatory |
|
|
|
VALINOR CAPITAL PARTNERS
|
OFFSHORE MASTER FUND, L.P.
|
|
|
|
|
By: | /s/ Owen Schmidt |
|
Name: | Owen Schmidt |
|
Title: | Authorized Signatory |
(a) |
If to the Company, to:
|
Attention:
|
Krysta De Lima, General Counsel
|
|
krysta@next-decade.com
|
Attention:
|
Sean M. Jones |
|
Sean.Jones@klgates.com |
(b) |
If to the Purchaser to the notice address set forth in the Stock Purchase Agreement.
|
|
NEXTDECADE CORPORATION | ||
|
|
|
|
|
By: | /s/ Matthew Schatzman |
|
Name: Matthew Schatzman |
|
Title: President and Chief Executive Officer
|
|
PURCHASERS: |
|
|
|
Valinor Capital Partners, L.P. |
|
|
|
By: | /s/ Owen Schmidt |
|
Name: Owen Schmidt |
|
Title: Authorized Signatory |
|
|
|
Valinor Capital Partners Offshore Master Fund, L.P.
|
|
|
|
By: | /s/ Owen Schmidt |
|
Name: Owen Schmidt |
|
Title: Authorized Signatory |
Valinor Management, L.P.
|
|||
By:
|
/s/ David Angstreich
|
Name:
|
David Angstreich
|
|
Title:
|
Chief Operating Officer
|
David Gallo
|
||
/s/ David Gallo |
Valinor Associates, LLC
|
|||
By:
|
/s/ David Angstreich
|
Name:
|
David Angstreich
|
|
Title:
|
Chief Operating Officer
|
Valinor Capital Partners Offshore Master Fund, L.P.
|
|||
By:
|
/s/ David Angstreich
|
Name:
|
David Angstreich
|
|
Title:
|
Chief Operating Officer
|
VND Partners, L.P.
|
|||
By:
|
/s/ David Angstreich
|
Name:
|
David Angstreich
|
|
Title:
|
Chief Operating Officer
|
Valinor Capital Partners, L.P.
|
|||
By:
|
/s/ David Angstreich
|
Name:
|
David Angstreich
|
|
Title:
|
Chief Operating Officer
|