Signature
See Exhibit 99.1
Issuer symbol
NEXT
Transactions as of
22 Jul 2025
Net transactions value
$0
Form type
3
Filing time
01 Aug 2025, 16:26:04 UTC

Reporting Owners (2)

Name Relationship Address Signature Signature date CIK
Bardin Hill Opportunistic Credit Master (US) Fund II LP Director by Deputization C/O BARDIN HILL INVESTMENT PARTNERS LP, 299 PARK AVE., 24TH FLOOR, NEW YORK See Exhibit 99.1 01 Aug 2025 0002079203
Bardin Hill Opportunistic Credit Fund II GP LLC Director by Deputization C/O BARDIN HILL INVESTMENT PARTNERS LP, 299 PARK AVE., 24TH FLOOR, NEW YORK See Exhibit 99.1 01 Aug 2025 0002079198

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding NEXT Tranche C Warrants 22 Jul 2025 Common Stock 818,171 $9.30 See notes F1, F2, F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This statement is being filed by the following Reporting Persons: Bardin Hill Opportunistic Credit Master (US) Fund II LP ("BH Opp Credit Master US II") and Bardin Hill Opportunistic Credit Fund II GP LLC ("BH Opp Credit II GP").
F2 Bardin Hill Investment Partners LP ("Bardin Hill") is the investment manager of BH Opp Credit Master US II and BH Opp Credit II GP is the general partner of BH Opp Credit Master US II. Investment decisions of Bardin Hill are made by one or more of its portfolio managers, including Jason Dillow, John Greene and Pratik Desai, each of whom has individual decision-making authority. Avinash Kripalani is a Partner at Bardin Hill and serves on the board of directors of the Issuer as Bardin Hill's representative.
F3 In connection with entering into the Amendment to the Credit Agreement, dated May 14, 2025, providing for an incremental term loan to the Issuer, the Issuer issued 818,171 warrants to purchase an equal number of shares of the Issuer, subject to adjustment (the "Tranche C Warrants") to BH Opp Credit Master US II. In accordance with the terms of the Tranche C Common Stock Purchase Warrant Agreement, dated May 14, 2025, BH Opp Credit Master US II acquired beneficial ownership of the Tranche C Warrants on July 22, 2025, the date on which the average of the Daily VWAP for the previous thirty (30) consecutive trading days exceeded the exercise price of the Tranche C Warrants. The Tranche C Warrants are exercisable for $9.30 per share, subject to adjustment, on a cashless basis, at any time prior to May 14, 2030.
F4 The Tranche C Warrants are subject to anti-dilution protection upon certain issuances of Company securities at an effective price below the fair market value of the Company's capital stock, as determined in accordance with the Tranche C Warrants, and customary adjustment for stock splits, reverse splits, mergers, combinations, and other similar corporate transactions.
F5 Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of its, his or her pecuniary interest.

Remarks:

Exhibit 99.1 (Joint Filer Information and Signatures) is incorporated herein by reference. This Form 3 is filed by Designated Filer Bardin Hill Opportunistic Credit Master (US) Fund II LP.