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OPAL Fuels Inc. – ‘8-K’ for 9/29/22

On:  Monday, 10/3/22, at 4:38pm ET   ·   For:  9/29/22   ·   Accession #:  1842279-22-27   ·   File #:  1-40272

Previous ‘8-K’:  ‘8-K’ on 9/19/22 for 9/15/22   ·   Next:  ‘8-K’ on / for 11/1/22   ·   Latest:  ‘8-K’ on 3/28/24 for 3/27/24   ·   12 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

10/03/22  OPAL Fuels Inc.                   8-K:1,2,9   9/29/22   12:5.7M

Current Report   —   Form 8-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                      HTML     42K 
 2: EX-10.1     Material Contract                                   HTML     55K 
 7: R1          Cover                                               HTML     53K 
10: XML         IDEA XML File -- Filing Summary                      XML     12K 
 8: XML         XBRL Instance -- opal-20220929_htm                   XML     29K 
 9: EXCEL       IDEA Workbook of Financial Reports                  XLSX      8K 
 4: EX-101.DEF  XBRL Definitions -- opal-20220929_def                XML     42K 
 5: EX-101.LAB  XBRL Labels -- opal-20220929_lab                     XML     87K 
 6: EX-101.PRE  XBRL Presentations -- opal-20220929_pre              XML     43K 
 3: EX-101.SCH  XBRL Schema -- opal-20220929                         XSD     11K 
11: JSON        XBRL Instance as JSON Data -- MetaLinks               14±    20K 
12: ZIP         XBRL Zipped Folder -- 0001842279-22-000027-xbrl      Zip     39K 


‘8-K’   —   Current Report


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 iX:   C:  C: 
  opal-20220929  
 i 0001842279 i FALSE00018422792022-09-292022-09-290001842279us-gaap:CommonClassAMember2022-09-292022-09-290001842279us-gaap:WarrantMember2022-09-292022-09-29

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________
FORM  i 8-K
___________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934


Date of Report (Date of earliest event reported):  i September 29, 2022

___________________________________
 i OPAL Fuels Inc.
(Exact name of registrant as specified in its charter)
___________________________________

 i Delaware
(State or other jurisdiction of
incorporation)
(Commission File Number)
 i 98-1578357
(IRS Employer Identification No.)
 i One North Lexington Avenue,  i Suite 1450
 i White Plains,  i New York
 i 10601
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code: ( i 914)  i 705-4000
Not Applicable
(Former name or former address, if changed since last report)
___________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 i 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 i 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 i 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 i 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
 i Class A common stock, par value $.0001 per share i OPAL i The Nasdaq Stock Market LLC
 i Warrants, each whole warrant exercisable for one share of Class A Common Stock  i OPALW i The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).



Emerging growth company     i 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  i 




Item 1.01. Entry into a Material Definitive Agreement

The information provided in Item 2.03 below is incorporated herein by reference, as applicable.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

Opal Fuels Intermediate HoldCo LLC (“Borrower”), an indirect subsidiary of Opal Fuels Inc. (the “Company”), is the borrower under that $125 million Delayed Draw Term Loan and Guaranty Agreement dated as of October 22, 2021, as amended (as so amended, the “DDTL Agreement”), provided by a lender group led by Bank of America, as administrative agent, and guaranteed by Opal Fuels LLC, a direct subsidiary of the Company, and certain of its direct and indirect subsidiaries. $35 million of the loan commitments under the DDTL Agreement (the “Term A-2 Commitments”) were specifically allocated to the following renewable natural gas production projects: (i) New River, located in Raiford, Florida, (ii) Pine Bend, located in Inver Grove Heights, Minnesota and (iii) Noble Road, located in Shiloh, Ohio, in each case subject to certain project specific conditions set forth in the DDTL Agreement.

On September 29, 2022, Borrower and the other parties to the DDTL Agreement entered into that Amendment No. 3 (“Amendment No. 3”) to the DDTL Agreement. Amendment No. 3 amended the DDTL Agreement (a) to extend from September 30, 2022 to (i) October 31, 2022 the availability period for the borrowing under the Term A-2 Commitments of up to an aggregate of $25 million in Term A-2 Loans, and (ii) March 31, 2023 the availability period for the borrowing under the Term A-2 Commitments of a single final borrowing of Term A-2 Loans not to exceed $10 million, to be made upon Borrower’s certification to the satisfaction of certain final conditions specifically applicable to the New River and Pine Bend projects, and (b) to amend the principal repayment amortization schedule for Term A-2 Loans.

This summary of the DDTL Agreement does not purport to be complete and is qualified in its entirety by reference to the text of the DDTL Agreement, a copy of which is filed as Exhibit 10.1 hereto and incorporated into this Item 2.03 by reference.

Item 9.01. Financial Statements and Exhibits

Exhibit Number Description
10.1




SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Date: October 3, 2022
OPAL Fuels Inc.
By:
/s/ Ann Anthony
Name:
Ann Anthony
Title:
Chief Financial Officer


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing    Date    Other Filings
3/31/23
10/31/22
Filed on:10/3/22S-8
9/30/22
For Period end:9/29/22
10/22/21
 List all Filings 


12 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/15/24  OPAL Fuels Inc.                   10-K       12/31/23  131:18M
 5/04/23  OPAL Fuels Inc.                   POS AM                 1:3M
 5/03/23  OPAL Fuels Inc.                   POS AM                 2:2.9M
 3/29/23  OPAL Fuels Inc.                   10-K       12/31/22  125:17M
12/20/22  OPAL Fuels Inc.                   SC TO-I/A  12/19/22    1:53K  OPAL Fuels Inc.                   EdgarAgents LLC/FA
11/18/22  OPAL Fuels Inc.                   SC TO-I                2:98K  OPAL Fuels Inc.                   EdgarAgents LLC/FA
11/18/22  OPAL Fuels Inc.                   S-4                  111:14M                                    EdgarAgents LLC/FA
11/15/22  OPAL Fuels Inc.                   424B3                  1:2M
11/14/22  OPAL Fuels Inc.                   10-Q        9/30/22  109:15M
11/04/22  OPAL Fuels Inc.                   S-1/A                 55:8.9M                                   EdgarAgents LLC/FA
11/02/22  OPAL Fuels Inc.                   S-1/A                 59:8.9M                                   EdgarAgents LLC/FA
10/14/22  OPAL Fuels Inc.                   S-1/A                 57:8.8M                                   EdgarAgents LLC/FA
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