Financing ·
New Fortress Energy Inc. consummated a comprehensive restructuring of its principal funded debt obligations on…
NFENew Fortress Energy Inc.
New Fortress Energy Inc. consummated a comprehensive restructuring of its principal funded debt obligations on September 11, 2026, pursuant to UK Restructuring Plans sanctioned by the High Court of Justice of England and Wales and recognized under Chapter 15 of the U.S. Bankruptcy Code. The transaction separated the company into two entities: CoreCo, retaining non-Brazil assets, and BrazilCo, comprising Brazilian businesses. Approximately $5.7 billion in third-party debt was extinguished, with creditors receiving 100% of BrazilCo equity, $571.3 million in new senior secured term loans for CoreCo, 2,454,936 shares of Series A Mandatorily Convertible Preferred Stock, and 10,608,922 shares (65%) of CoreCo common stock. The company also raised $136.5 million in new financing through a combination of senior and junior term loans. Concurrently, the board was reconstituted with five new directors appointed by creditors, six existing directors resigned, and the board size decreased to seven members. The filing effects a 1-for-50 reverse stock split effective September 11, 2026, and amends the certificate of incorporation to remove the staggered board structure. New Fortress Energy Inc. operates in the global energy infrastructure sector, owning and operating natural gas, liquefied natural gas (LNG) infrastructure, and an integrated fleet of ships and logistics assets.