Tellurian Inc. closed its public offering of 12,000,000 common shares, yielding net proceeds of about $115.1 million.
Underwriters were given a 30-day overallotment option for up to 1,800,000 additional common shares. Tellurian plans to use the net proceeds for general corporate purposes, such as pipeline development and working capital, according to a June 21 news release.
Credit Suisse Securities (USA) LLC acted as sole book-running manager for the offering, while Stifel Cowen and Co. LLC, Seaport Global Securities LLC and Tuohy Brothers Investment Research Inc. served as co-managers.
Tellurian is the developer of Driftwood LNG, an LNG export facility in Lake Charles, La., designed to have about 27.6 million tonnes per annum of liquefaction capacity, and an associated pipeline.