Photo: Rendering of Tellurian's Driftwood LNG near Lake Charles, Louisiana (Image courtesy of Tellurian)

Tellurian raises $115 million in stock offering

Rendering of Tellurian’s Driftwood LNG near Lake Charles, Louisiana (Image courtesy of Tellurian)

The Houston-based LNG export project developer Tellurian said Thursday it had completed the previously announced public offering of 12 million shares of common stock.

Net proceeds from the offering, after deducting estimated fees and expenses, were approximately $115.1 million, Tellurian’s statement reads.

Credit Suisse Securities (USA) LLC acted as sole book-running manager for the offering, and Stifel, Cowen and Company, LLC, Seaport Global Securities LLC and Tuohy Brothers Investment Research, Inc. acted as co-managers.

The US company developing the 27.6 mtpa Driftwood LNG export project has granted the underwriters a 30-day option to purchase up to 1.8 million additional shares of common stock to cover over-allotments, if any.

Tellurian added it intends to use the net proceeds from the offering for general corporate purposes, including pipeline development and working capital.

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