New Fortress Energy has announced two transformative debt and equity transactions totaling approximately $3 billion at closing.
The company issued 46,349,942 shares of its class A common stock at a public offering price of $8.63 per share, for a total offering of $400 million. Wes Edens, chairman and CEO of New Fortress Energy, purchased 5,793,742 shares, totaling approximately $50 million of the offering, at the public offering price.
Additionally, New Fortress Energy entered into a transaction support agreement with certain existing noteholders. The company is expected to consummate a series of transactions intended to extend the maturity profile of the company’s indebtedness while providing additional operating liquidity and financial flexibility. As part of these transactions, the company or its subsidiaries expects to issue a total of $2.6 billion of senior secured notes, due 2029.
These include $1.2 billion of new notes issued to fully redeem $875 millio
