Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>
- Peter Lynch
What is insider trading>>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 16)
|
NextDecade Corporation
|
|
(Name of Issuer)
|
|
Common Stock, par value $0.0001 per share
|
|
(Title of class of securities)
|
|
65342K105
|
|
(CUSIP number)
|
|
York Capital Management Global Advisors LLC
1330 Avenue of the Americas, 20th Floor
New York, NY 10019
Telephone: (212) 300-1300
with copies to:
Kaitlin Descovich
Weil, Gotshal & Manges LLP
2000 M Street NW
Washington, DC 20026
Telephone: (202) 682-7000
|
|
(Name, address and telephone number of person authorized to receive notices and communications)
|
|
May 22, 2024
|
|
(Date of event which requires filing of this statement)
|
If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of §240.13d-1(e), §240.13d-1(f) or
§240.13d-1(g), check the following box ☐.
|
Schedule 13D
|
||
|
CUSIP No. 65342K105
|
||
|
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
|
York Capital Management Global Advisors, 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
|
|
|
||
|
39,337,035 (see Item 5)
|
|
|
|||
|
|
|
||||
|
9
|
SOLE DISPOSITIVE POWER
|
|
|
||
|
0 (see Item 5)
|
|
|
|||
|
|
|
||||
|
10
|
SHARED DISPOSITIVE POWER
|
|
|
||
|
39,337,035 (see Item 5)
|
|
|
|||
|
|
|
||||
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
|
39,337,035 (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)
|
|
|
||
|
15.2% (see Item 5)
|
|
|
|||
|
|
|
||||
|
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
|
OO
|
|
|
|||
|
|
|
||||
This Amendment No. 16 (“Amendment No. 16”) amends the Schedule 13D originally filed with the U.S. Securities and Exchange Commission (the “Commission”) on August 3, 2017 (as amended, the “Statement”), and is filed by
the Reporting Person with respect to the common stock, $0.0001 par value per share (“Shares”) of NextDecade Corporation (the “Issuer”). Capitalized terms used herein but not defined shall have the meaning given to them in the Statement.
| Item 2. |
Identity and Background.
|
Item 2 is amended and supplemented as follows:
(a) This Statement is being filed by York Capital Management Global Advisors, LLC, a New York limited liability company (“YGA” or the “Reporting Person”). This Statement is being filed by YGA with respect to the following Share ownership amounts
as of May 22, 2024:
|
●
|
2,364,876 Shares beneficially owned directly by York Capital Management, L.P., a Delaware limited partnership (“York Capital”);
|
|
●
|
7,654,268 Shares beneficially owned directly by York Credit Opportunities Fund, L.P., a Delaware limited partnership (“York Credit Opportunities”);
|
|
●
|
6,720,032 Shares beneficially owned directly by York Credit Opportunities Investments Master Fund, L.P., a Cayman limited partnership (“York Credit Opportunities Master”);
|
|
●
|
3,867,879 Shares beneficially owned directly by FDAF Dislocated Asset Fund II, L.P., a Delaware limited partnership (formerly known as York European Fund, “FDAF”);
|
|
●
|
14,049,706 Shares beneficially owned directly by York Multi-Strategy Master Fund, L.P., a Cayman Islands exempted limited partnership (“York Multi-Strategy”);
|
|
●
|
1,559,527 Shares beneficially owned directly by York Tactical Energy Fund L.P., a Delaware limited partnership (“York Tactical”); and
|
|
●
|
3,120,747 Shares beneficially owned directly by York Tactical Energy Fund PIV-AN L.P., a Delaware limited partnership (“York Tactical PIV-AN” and together with York Tactical, York Capital, York Credit Opportunities, York Credit
Opportunities Master, FDAF, and York Multi-Strategy, the “York Funds”).
|
YGA, the sole managing member of Dinan Management LLC, a New York limited liability company (“Dinan Management”), and the sole managing member of the general partner of each of York Capital, York Credit Opportunities, York Credit Opportunities
Master, York Multi-Strategy, York Tactical and York Tactical PIV-AN, exercises investment discretion over such investment funds and accordingly may be deemed to have beneficial ownership over the Shares beneficially owned directly by the York
Funds.
James G. Dinan is the Non-Executive Chairman of YGA. William Vrattos is Managing Partner.
York Credit Opportunities Domestic Holdings, LLC, a New York limited liability company (“York Credit Opportunities Domestic”), is the general partner of York Credit Opportunities and York Credit Opportunities Master. YGA is the sole managing
member of York Credit Opportunities Domestic.
FDAF Dislocated Asset Fund II GP Limited (formerly known as York European Holdings, “FDAF GP”) is the general partner of FDAF. YGA is the investment advisor to FDAF.
York Tactical Energy Holdings, LLC, a New York limited liability company (“York Tactical GP”) is the general partner of York Tactical and York Tactical PIV-AN.
The name of each director and each executive officer of YGA is set forth on Exhibit 1 to this Statement, which is incorporated herein by reference.
| Item 4. |
Purpose of Transaction.
|
Item 4 is amended and supplemented as follows:
On May 22, 2024, each of the following York funds distributed to their respective investors, on a pro rata basis, for no additional consideration, the number of Shares as follows: 4,363,707 by York Capital; 5,572,710 by York Credit
Opportunities; 7,550,623 by York Credit Opportunities Master; and 950,030 by York Multi-Strategy, pursuant to their governing documents (the “May 2024 Distribution”).
| Item 5. |
Interests in the Securities of the Issuer.
|
Item 5 is amended and restated as follows:
The responses set forth on rows 7 through 13 of the cover pages of this Amendment No. 16 are incorporated by reference in this Item 5. The beneficial ownership information that follows in this Item 5 is as the date of this Amendment No. 16.
(a) (i) YGA may, pursuant to Rule 13d-3 under the Exchange Act, be deemed to be the beneficial owner of 39,337,035 Shares in the aggregate, which represents approximately 15.2% of the outstanding Shares
(calculated based on 257,994,156 Shares outstanding as of May 3, 2024, as reported in the Issuer’s Amendment No. 1 to the Quarterly Report on Form 10-Q/A filed with the Securities and Exchange Commission on May 13, 2024 (the “Outstanding Shares”).
(ii) York Capital may, pursuant to Rule 13d-3 under the Exchange Act, be deemed to be the beneficial owner of 2,364,876 Shares. As the general partner of York Capital, Dinan Management may be deemed to be the
beneficial owner of the securities beneficially owned by York Capital.
(iii) York Credit Opportunities may, pursuant to Rule 13d-3 under the Exchange Act, be deemed to be the beneficial owner of 7,654,268 Shares. As the general partner of York Credit Opportunities, York Credit
Opportunities Domestic may be deemed to be the beneficial owner of the securities beneficially owned by York Credit Opportunities.
(iv) York Credit Opportunities Master may, pursuant to Rule 13d-3 under the Exchange Act, be deemed to be the beneficial owner of 6,720,032 Shares. As the general partner of York Credit Opportunities Master, Dinan
Management may be deemed to be the beneficial owner of the securities beneficially owned by York Credit Opportunities Master.
(v) FDAF may, pursuant to Rule 13d-3 under the Exchange Act, be deemed to be the beneficial owner of 3,867,879 Shares. As the general partner of FDAF, FDAF GP may be deemed to be the beneficial owner of the
securities beneficially owned by FDAF.
4
(vi) York Multi-Strategy may, pursuant to Rule 13d-3 under the Exchange Act, be deemed to be the beneficial owner of 14,049,706 Shares. As the general partner of York Multi-Strategy, Dinan Management may be deemed
to be the beneficial owner of the securities beneficially owned by York Multi-Strategy.
(vii) York Tactical may, pursuant to Rule 13d-3 under the Exchange Act, be deemed to be the beneficial owner of 1,559,527 Shares. As the general partner of York Tactical, York Tactical Holdings may be deemed to be
the beneficial owner of the securities beneficially owned by York Tactical.
(viii) York Tactical PIV-AN may, pursuant to Rule 13d-3 under the Exchange Act, be deemed to be the beneficial owner of 3,120,747 Shares. As the general partner of York Tactical PIV-AN, York Tactical Holdings may be
deemed to be the beneficial owner of the securities beneficially owned by York Tactical PIV-AN.
(ix) To the knowledge of the Reporting Person, except as described above, no Shares are beneficially owned, or may be deemed to be beneficially owned, by any of the persons named on Exhibit 1 to the Statement. The
number of Shares beneficially owned and the percentage of Shares represented thereby, for each person named above, have been computed in accordance with Rule 13d-3 under the Exchange Act.
(b) (i) YGA may be deemed to be the beneficial owner of 39,337,035 Shares in the aggregate, which represent approximately 15.2% of the Outstanding Shares.
(ii) York Capital may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 2,364,876 Shares. As the general partner of York Capital, Dinan Management may be deemed to
have the sole power to dispose of, direct the disposition of, vote or direct the vote of securities beneficially owned by York Capital.
(iii) York Credit Opportunities may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 7,654,268 Shares. As the general partner of York Credit Opportunities, York
Credit Opportunities Domestic may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of the securities beneficially owned by York Credit Opportunities.
(iv) York Credit Opportunities Master may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 6,720,032 Shares. As the general partner of York Credit Opportunities
Master, Dinan Management may be deemed to be the beneficial owner of the securities beneficially owned by York Credit Opportunities Master.
(v) FDAF Dislocated Asset Fund II L.P. (formerly known as York European Fund) may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 3,867,879 Shares. As the
general partner of FDAF Dislocated Asset Fund II L.P., FDAF Dislocated Asset Fund II GP Limited (formerly known as York European Holdings) may be deemed to be the beneficial owner of the securities beneficially owned by FDAF Dislocated Asset Fund
II L.P.
(vi) York Multi-Strategy may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 14,049,706 Shares. As the general partner of York Multi-Strategy, Dinan Management
may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of the securities beneficially owned by York Multi-Strategy.
(vii) York Tactical may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 1,559,527 Shares. As the general partner of York Tactical, York Tactical Holdings may be
deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of the securities beneficially owned by York Tactical.
(viii) York Tactical PIV-AN may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of 3,120,747 Shares. As the general partner of York Tactical PIV-AN, York Tactical
Holdings may be deemed to have the sole power to dispose of, direct the disposition of, vote or direct the vote of the securities beneficially owned by York Tactical PIV-AN.
5
(ix) To the knowledge of the Reporting Person, none of the persons named on Exhibit 1 to the Statement has, or may be deemed to have, any power to dispose of, direct the disposition of, vote or direct the vote of
any Shares, except as set forth on Exhibit 1.
(c) Except as reported in this Amendment No. 16, including Exhibit 1 hereto, none of the Reporting Person of the persons named on Exhibit 1 to the Statement has effected any transaction in Shares within last 60 days.
(d) To the knowledge of the Reporting Person, no other Reporting Person or person named on Exhibit 1 to the Statement has the right to receive or the power to direct the receipt of dividends from, or the proceeds
from, the May 2024 Distribution.
(e) Not applicable.
6
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
| Dated: May 24, 2024 | |||
|
York Capital Management Global Advisors, LLC
|
|||
|
By:
|
/s/ Brian Traficante
|
||
|
Name:
|
Brian Traficante
|
||
|
Title:
|
Managing Director & Chief Operating Officer, General
|
||
|
Counsel and Chief Compliance Officer
|
|||
EXHIBIT 1
DIRECTORS AND EXECUTIVE OFFICERS OF
YORK CAPITAL MANAGEMENT GLOBAL ADVISORS, LLC.
|
Name
|
Title
|
Principal
Business Address
|
Principal
Occupation
|
Citizenship
|
Ownership
of Shares
|
||||||
|
James G. Dinan
|
Chairman and Chief Executive Officer
|
1330 Avenue of the Americas, 20th Floor New York, NY 10019
|
Investment management
|
USA
|
2,149,0531
|
||||||
|
William Vrattos
|
Chief Investment Officer and Managing Partner
|
1330 Avenue of the Americas, 20th Floor New York, NY 10019
|
Investment management
|
USA
|
744,486
|
1. Represents shares directly held and indirect interests in Shares through investment vehicles.