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.

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