Tellurian to raise $105 million in share sale

US LNG firm Tellurian said it would raise $105 million through a recently announced sale of its shares in an underwritten public offering.

Tellurian said in a statement it had priced the offering of 35 million shares of its common stock for total gross proceeds of $105 million. This is before underwriter’s compensation and estimated expenses.

In addition, the Driftwood LNG developer has granted the underwriter of the offering a 30-day option to purchase up to 5.25 million additional shares of common stock to cover over-allotments, if any.

The Houston-based company intends to use the net proceeds from this offering for general corporate purposes, including the potential acquisition of upstream assets.

Tellurian expects the offering to close on or about August 6, subject to satisfaction of customary closing conditions.

- Advertisements -

Most Popular

Hyundai Samho to build LNG carrier quartet for $1.08 billion

South Korea's Hyundai Samho has secured an order to build four liquefied natural gas (LNG) carriers for about $1.08...

Cedar LNG FID pushed back

Canada’s Pembina Pipeline and the Haisla Nation have again postponed a final investment decision on their Cedar floating LNG...

Eni to ship Congo’s first LNG cargo

Italy’s Eni will soon ship the first liquefied natural gas cargo from its Tango floating LNG facility moored in...

More News Like This

Tellurian reports $166.2 million net loss in 2023

US LNG firm Tellurian reported a net loss of $166.2 million in 2023, as it continues to work on...

Tellurian amends debt terms to support sale of its upstream assets

US LNG firm Tellurian, the developer of the Driftwood LNG project in Louisiana, said it had signed a deal...

Tellurian secures more time to complete Driftwood LNG terminal

US LNG terminal developer Tellurian has secured more time from the US FERC to complete the construction of its...

Tellurian looking to sell its upstream assets

US LNG terminal developer Tellurian is exploring the sale of its Haynesville upstream assets as it works on securing...