Tellurian Inc. (Tellurian or the Company) (NASDAQ: TELL) today announced
that it has closed its previously announced public offering of
12,000,000 shares of common stock. Net proceeds from the offering, after
deducting estimated fees and expenses, were approximately
$115.1 million. Credit Suisse Securities (USA) LLC acted as sole
book-running manager for the offering, and Stifel, Cowen and Company,
LLC, Seaport Global Securities LLC and Tuohy Brothers Investment
Research, Inc. acted as co-managers. 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 the offering for
general corporate purposes, including pipeline development and working
capital.
The offering was made pursuant to an effective shelf registration
statement of the Company previously filed with the Securities and
Exchange Commission (the “SEC”). The offering was made only by means of
a prospectus supplement and the accompanying prospectus. Copies of the
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: newyork.prospectus@credit-suisse.com.
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.”
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
Statements in this press release related to the use of proceeds from the
Company’s public offering of common stock and all other statements other
than statements of historical fact are forward-looking statements that
are made pursuant to the Safe Harbor Provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements are
subject to a number of risks and uncertainties that may cause actual
results to differ materially from the forward-looking statements.
Tellurian urges you to carefully review and consider the cautionary
statements made in this press release, the registration statement, the
“Risk Factors” section of the prospectus supplement for the offering and
of the Company’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2017 filed with the SEC on March 15, 2018, and other
filings with the SEC for further information on risks and uncertainties
that could affect the Company’s business, financial condition and
results of operations. The Company cautions you not to place undue
reliance on forward-looking statements, which speak only as of the date
made. Tellurian undertakes no obligation to update any forward-looking
statements in order to reflect any event or circumstance occurring after
the date of this press release or currently unknown facts or conditions
or the occurrence of unanticipated events. All forward-looking
statements are qualified in their entirety by this cautionary statement.
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Copyright Business Wire 2018
Source: Business Wire
(June 21, 2018 - 10:18 AM EDT)
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