Acquisition company Harmony Merger Corp (HRMNU.O) and privately held liquefied natural gas developer NextDecade LLC said on Monday that they would merge in an all-stock deal valued at about $1 billion.
The proposed reverse merger will result in NextDecade becoming a publicly listed company.
NextDecade focuses on LNG export projects and pipelines in Texas.
The deal, expected to close in the second quarter of 2017, includes an additional stock consideration to be paid to NextDecade shareholders after certain milestones are met.
The merger is expected to close only after it gets Harmony stockholders' and certain regulatory approvals.
Harmony's legal adviser is Graubard Miller, while NextDecade's legal counsel is King & Spalding LLP. Height Securities LLC is acting as financial adviser to NextDecade.
(Reporting by Vishaka George in Bengaluru; Editing by Maju Samuel)