New Fortress Energy Announces Offering of Class A Common Stock

Rhea-AI Summary

New Fortress Energy (NASDAQ: NFE) has announced a public offering of $150 million in Class A common stock, with an underwriter's option for an additional $22.5 million. The company will utilize the net proceeds for general corporate purposes. Morgan Stanley is the sole underwriter. This offering is conducted under an effective registration statement and a preliminary prospectus supplement available through SEC filings. The press release emphasizes that it does not constitute an offer to sell or solicit purchases in areas where it would be illegal.

Positive

• Launch of a public offering of $150 million can strengthen the company's capital position.
• Potential to raise an additional $22.5 million through underwriter's option.

Negative

• Issuing new shares could lead to shareholder dilution.
• No specific projects or initiatives disclosed for the use of proceeds, leaving uncertainty regarding their impact.

New Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) announced today that it has launched an underwritten public offering (the “Offering”) of $150.0 million of shares of its Class A common stock (“Common Stock”). The underwriter has agreed to purchase all of the shares offered and the Company intends to grant the underwriter an option to purchase up to an additional $22.5 million of shares of Common Stock. The Company expects to use the net proceeds from the Offering for general corporate purposes.

Morgan Stanley is acting as sole underwriter for the Offering.

The Offering is being made only by means of a previously filed effective registration statement (including a base prospectus) and a preliminary prospectus supplement. Copies of the registration statement (including a base prospectus) and the preliminary prospectus supplement related to the Offering may be obtained, when available, from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014. Copies of the registration statement (including the base prospectus) and the preliminary prospectus supplement relating to the Offering can be accessed free of charge through EDGAR on the U.S. Securities and Exchange Commission’s (the “SEC”) website at www.sec.gov. A prospective investor should read the prospectus in that registration statement, the preliminary prospectus supplement and other documents the Company has filed with the SEC for more complete information about the Company and the Offering before investing.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About New Fortress Energy Inc.

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The Company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains forward-looking statements, including but not limited to statements regarding the Company’s anticipated use of the net proceeds from the Offering and other statements regarding the Offering. All statements contained in this press release other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “targets,” “potential” or “continue” or the negative of these terms or other comparable terminology. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties. Actual events or results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors.

All forward-looking statements speak only as of the date on which it is made. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in our annual, quarterly and other reports we file with the SEC. We undertake no duty to update these forward-looking statements, even though our situation may change in the future. Furthermore, we cannot guarantee future results, events, levels of activity, performance, projections or achievements.

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FAQ

What is the amount of New Fortress Energy's public offering?

New Fortress Energy is offering $150 million in Class A common stock.

Who is the underwriter for New Fortress Energy's offering?

Morgan Stanley is acting as the sole underwriter for the offering.

What does New Fortress Energy plan to do with the proceeds from the offering?

The net proceeds are intended for general corporate purposes.

Is the offering of New Fortress Energy subject to any legal limitations?

Yes, the offering cannot be made in jurisdictions where it would be unlawful prior to registration.

What is the additional option available in New Fortress Energy's offering?

The underwriter has an option to purchase up to an additional $22.5 million of shares.