Tellurian Inc. have announced that the underwriters of its recent public offering of 10 million shares of common stock have purchased an additional 1.5 million shares pursuant to their over-allotment option.
The price to the public in the offering was US$10 per share. The net proceeds from the exercise of the over-allotment option were approximately US$14.5 million, after deducting fees and estimated expenses.
The exercise of the over-allotment option closed on 9 January 2018. Credit Suisse Securities (USA) LLC acted as sole book-running manager for the offering, and Tuohy Brothers Investment Research, Inc. acted as co-manager.
The company intends to use the net proceeds from the offering for detailed engineering of an LNG terminal facility and an associated pipeline in Southwest Louisiana, general corporate purposes 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 offering was made only by means of a prospectus supplement and the accompanying prospectus.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/10012018/tellurian-to-exercise-over-allotment-option/