Tellurian Closes Public Offering of Senior Notes
November 10 2021 - 11:00AM
Business Wire
Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL)
today announced that it has closed its previously announced
underwritten public offering of $50 million aggregate principal
amount of 8.25% senior notes due 2028. Proceeds from the offering,
after deducting underwriting discounts and commissions, the
structuring and advisory fee and estimated fees and expenses, were
approximately $47.1 million. The Company has granted the
underwriters a 30-day option to purchase an additional $7.5 million
aggregate principal amount of senior notes in connection with the
offering. The Company intends to use the net proceeds from this
offering for general corporate purposes, including the potential
acquisition of upstream assets.
Tellurian and this issuance of notes both received an investment
grade rating of BBB+ from Egan-Jones Ratings Company, an
independent, unaffiliated rating agency.
B. Riley Securities, Inc., Ladenburg Thalmann & Co. Inc. and
William Blair & Company, L.L.C. acted as joint book-running
managers for the offering. EF Hutton, division of Benchmark
Investments, LLC, acted as lead manager, and Aegis Capital Corp.,
Boenning & Scattergood, Inc., Colliers Securities LLC,
Newbridge Securities Corporation, Revere Securities LLC, Wedbush
Securities Inc. and B.C. Ziegler and Company acted as co-managers
for the offering.
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 B. Riley Securities, Inc., Attention: Prospectus
Department, 1300 North 17th Street, Suite 1300, Arlington, Virginia
22209; Telephone: (703) 312-9580, or by emailing
prospectuses@brileyfin.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 is developing a portfolio of natural gas production,
LNG marketing and trading, and infrastructure that includes an ~
27.6 mtpa LNG export facility and an associated pipeline. Tellurian
is based in Houston, Texas, and its common stock is listed on the
NYSE American under the 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 senior notes 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, 2020, 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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version on businesswire.com: https://www.businesswire.com/news/home/20211110006003/en/
Media: Joi Lecznar EVP Public and Government Affairs
Phone +1.832.962.4044 joi.lecznar@tellurianinc.com
Investors: Matt Phillips Vice President, Investor
Relations Phone +1.832.320.9331
matthew.phillips@tellurianinc.com
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