Tellurian Inc. (ticker: TELL) has priced an underwritten public offering of 10,000,000 shares of its common stock at a price to the public of $10.00 per share, for total gross proceeds (before underwriters’ compensation and estimated expenses) of $100.0 million.
The size of the offering was increased from the previously announced size of 8,000,000 shares. The company has granted the underwriters a 30-day option to purchase up to 1,500,000 additional shares of common stock to cover over-allotments, if any.
The company intends to use the net proceeds from this offering for detailed engineering of an LNG terminal facility and an associated pipeline in Southwest Louisiana, general corporate purposes, and working capital. The offering is expected to close on December 12, 2017, subject to satisfaction of customary closing conditions. Credit Suisse Securities (USA) LLC is acting as sole book-running manager for the offering and Tuohy Brothers Investment Research, Inc. is acting as co-manager.
