Tellurian Inc. priced its offering of 10,000,000 shares of common stock at $10.00 per share for total gross proceeds of $100 million, according to a Dec. 7 news release.
The shares were upsized from the 8,000,000 shares of the initial offering. The overallotment option given to underwriters was also upsized to 1,500,000 shares from 1,200,000 shares.
Tellurian intends to use net proceeds from the offering for detailed engineering of its planned LNG terminal facility and an associated pipeline in Southwest Louisiana, general corporate purposes, and working capital.
Credit Suisse Securities (USA) LLC is acting sole book-running manager for the offering.
Tellurian is developing a 27.6 million tonnes per annum LNG export facility known as Driftwood LNG.
