New Fortress Energy Inc. Announces Pricing of Secondary Offering of Common Stock

Rhea-AI Summary

New Fortress Energy Inc. (NASDAQ: NFE) announced a secondary public offering of 6,900,000 shares at $46.00 per share, representing approximately 3.3% of its outstanding stock. The shares are being sold by Energy Transition Holdings LLC, which holds 21.3% of the company's shares. The offering is expected to close on December 19, 2022, with J.P. Morgan serving as the sole underwriter. The company will not receive any proceeds from the sale. Investors should review the prospectus supplement filed with the SEC for complete details.

Positive

• The offering provides liquidity for the Selling Stockholder.
• Shares sold represent a manageable percentage of the company's outstanding stock.

Negative

• The offering does not generate proceeds for New Fortress Energy, limiting potential business growth.
• Selling stockholder's significant share sale may raise concerns about investor confidence.

NEW YORK--(BUSINESS WIRE)-- New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) announced today the pricing of the previously announced secondary public offering of 6,900,000 shares of its common stock by Energy Transition Holdings LLC (the “Selling Stockholder”), an entity managed by Great Mountain Partners LLC, at a price to the public of $46.00 per share. The 6,900,000 shares of common stock being sold in this offering represent approximately 3.3% of the Company’s outstanding common stock as of the close of business on December 13, 2022 and represent 21.3% of the shares held by the Selling Stockholder in the Company as of that date. The Company will not receive any proceeds from the sale of the shares by the Selling Stockholder. The offering is expected to close on December 19, 2022, subject to customary closing conditions.

J.P. Morgan is acting as the sole underwriter for the offering.

The offering is being made only by means of a prospectus supplement and accompanying base prospectus. The Company has filed a registration statement (including a base prospectus) and a preliminary prospectus supplement with the U.S. Securities and Exchange Commission (“SEC”) for the offering to which this communication relates and will file a final prospectus supplement relating to the offering. Prospective investors should read the prospectus supplement and base prospectus in that registration statement and other documents the Company has filed or will file with the SEC for more complete information about the Company and the offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the final prospectus supplement, when available, and the accompanying base prospectus for the offering may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone (toll-free): 1-866-803-9204, or by email at prospectus-eq_fi@jpmchase.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement or the shelf registration statement or prospectus.

About New Fortress Energy Inc.

New Fortress Energy Inc. is a global energy infrastructure company founded to help address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.

Cautionary Note Regarding Forward Looking Statements

This press release contains forward-looking statements, including but not limited to, the Selling Stockholder’s intention to consummate the offering. All statements other than statements of historical facts contained in this press release are forward-looking statements. The consummation of the offering is subject to market conditions and other factors that are beyond our control. Accordingly, no assurance can be given that the offering will be completed on the contemplated terms or at all and you should not place undue reliance on any forward-looking statements contained in this press release.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221214006094/en/

Investors

Patrick Hughes

ir@newfortressenergy.com

Media

Jake Suski

(516) 268-7403

press@newfortressenergy.com

Source: New Fortress Energy Inc.

FAQ

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

The price is set at $46.00 per share.

Who is selling shares in the New Fortress Energy offering?

The shares are being sold by Energy Transition Holdings LLC.

How many shares are being offered in the New Fortress Energy offering?

A total of 6,900,000 shares are being offered.

When is the expected closing date for the New Fortress Energy offering?

The offering is expected to close on December 19, 2022.

Will New Fortress Energy receive any proceeds from the sale?

No, the company will not receive any proceeds from this offering.