NEW FORTRESS ENERGY CL.A

Shareholders of New Fortress Energy approved a revised governance framework and an amended 2019 Omni Incentive Plan at the annual meeting. The plan removes the evergreen clause, caps issuance of reserved Class A shares at 10%, and creates a 7% reserve of mandatory convertible Series A preferred shares that will convert into Class A common stock after three years. The plan term was extended to ten years, the board is to adopt an equity incentive plan within 120 days, and shareholders approved several charter amendments including elimination of the staggered board, adoption of majority voting, a minimum board size of three members, and a 1-for-50 reverse stock split. Charles M. Sledge and Katherine E. Wanner were elected as Class I directors and Ernst & Young was ratified as the independent auditor; the issuance of more than 20% of outstanding Class A shares in connection with the restructuring was also approved. » More on de.investing.com

NFE Brazil Financing Limited has received commitments for senior secured notes totaling $885 million due 2029 with a coupon of 12.00%. Interest will be paid semiannually, the term is three years, and the notes are not subject to financial covenants. NFE Brazil intends to use the proceeds for operating purposes, investments, refinancing (including a bridge loan and existing notes) and cash reserves. The issuance is part of a broader recapitalization, including the spinoff of the Brazil business to a consortium; closing is expected by the third quarter of 2026, subject to customary conditions and approvals. » More on de.investing.com

New Fortress Energy sold certain turbines to Macquarie Energy for $265,882,500 and is leasing them back under a ten-year framework agreement. The purchase agreement was entered into by NFE Power PR LLC, and the leaseback by NFE Turbines LLC; the lease term begins on July 1. The proceeds will be used to repay existing indebtedness, and the obligations are secured by a corporate guarantee from New Fortress Energy. » More on de.investing.com