Tellurian (NASDAQ: TELL) has sold $56 million of zero coupon, unsecured notes and provided the lender with warrants to purchase up to 20 million shares of its common stock. According to the update, Tellurian also entered an agreement to amend its 2019 Term Loan, including a reduction of the principal amount by $17.1 million, in conjunction with the financing. The agreement provided for a paydown of $2.1 million in cash, converts $15 million of principal value into equity through the issuance of approximately 9.3 million shares to the lender, as well as provided the lender with warrants to purchase up to approximately 4.7 million shares of Tellurian common stock. “Tellurian is building cash reserves during this challenging time in global markets, positioning for a strong emergence from COVID-19 restrictions,” CEO and President Meg Gentle stated in the news release. “We remain bullish on long-term natural gas demand growth, underscoring the acute need for Driftwood LNG.” ROTH Capital Partners acted as sole placement agent for the offering.
To view the full press release, visit http://nnw.fm/b6zMt
About Tellurian Inc.
Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian is developing a portfolio of natural gas production, LNG trading, and infrastructure that includes a ~ 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 symbol “TELL”. For more information, visit the company’s website at www.TellurianInc.com.
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]
NetworkNewsWire is part of the InvestorBrandNetwork.