According to the statement, NextDecade issued the common stock to Bechtel at US$7.08 per share.
In May this year, NextDecade signed contracts with Bechtel for the engineering, procurement, and construction (EPC) of the first three trains of its Rio Grande LNG project.
As part of these contracts, Bechtel had previously agreed to accept up to US$15 million in NextDecade common stock in consideration for certain activities. The share price was calculated in accordance with terms of the transaction with Bechtel.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/03102019/nextdecade-issues-us15-million-in-common-stock-to-bechtel/
You might also like
A Seapath and Pilot LNG joint venture will develop, construct, and operate a terminal in the Galveston Bay area supporting LNG-powered vessels.