HOUSTON–(BUSINESS WIRE)–Tellurian Inc. (Tellurian or the Company) (NASDAQ: TELL) today announced that it has priced a public offering of 12,000,000 shares of its common stock for total gross proceeds to Tellurian (before underwriters’ compensation and estimated expenses) of $118.8 million. The Company has granted the underwriters a 30-day option to purchase up to 1,800,000 additional shares of common stock of the Company to cover over-allotments, if any. The Company intends to use the net proceeds from this offering for general corporate purposes, including pipeline development and working capital. The offering is expected to close on or about June 21, 2018, subject to satisfaction of customary closing conditions.
Credit Suisse Securities (USA) LLC is acting as sole book-running manager for the offering, and Stifel, Cowen and Company, LLC, Seaport Global Securities LLC and Tuohy Brothers Investment Research, Inc. are acting as co-managers.
The offering is being made pursuant to an effective shelf registration statement of the Company previously filed with the Securities and Exchange Commission (the “SEC”). The offering may be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement for the offering and the accompanying prospectus may be obtained by sending a request to Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, Telephone: 1-800-221-1037, E-mail: firstname.lastname@example.org.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Tellurian Inc.
Tellurian plans to build a natural gas business that includes development of Driftwood LNG, an approximately 27.6 mtpa LNG export facility, and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the Nasdaq Capital Market under the ticker symbol “TELL.”