New Fortress Energy Inc. — Form 8-K
Filed September 11, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 72/100
What the filing says
New Fortress Energy Inc. executed a 50-to-1 reverse stock split of Class A shares effective September 11, 2026, and issued 2,639,716 shares of Series A Mandatorily Convertible Preferred Stock with a $1,000 liquidation preference per share ($2.64 billion aggregate), converting mandatorily to common stock on September 11, 2029 at an initial conversion rate of 46.441271 shares per preferred share. Dividends accrue quarterly at 3% (Year 1), 5% (Year 2), and 7% (Year 3+) on the liquidation preference, compounding quarterly. The preferred stock ranks senior to common stock and is redeemable only with proceeds from cash flow operations, asset sales, junior securities sales, or new debt that does not increase total debt above $1.11 billion.
Why this rating
Major capital restructuring with significant dilution. $2.64B preferred issuance is ~475% of company market cap, massive debt recapitalization. Mandatory conversion and dividend drag are material. Reverse split suggests distressed refinancing.
Tradability signal
NO TRADE
No trade: price $0.33 is below our $0.5 floor — spreads at this level eat any edge. (Filing arrived outside market hours — evaluated at the next open with a live quote.)
Derived from this site's own measured outcomes + live price/liquidity at analysis time. An experiment, not investment advice.
Price action (we called it negative)
at our read · unknown $0.33 | +10 min · unknown $0.33 ▲ 0.00% | +30 min · unknown $0.33 ▲ 0.00% | +1 hr · unknown $0.33 ▲ 0.00% | +4 hrs pending |
Quotes via Yahoo Finance at capture time; for filings arriving outside market hours the clock starts at the next open. Not investment advice. How accurate are our calls? →
See more from September 11, 2026.
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