Photo: Courtesy of Tellurian

Tellurian secures $32.5 million through share sale

US LNG export project developer, Tellurian has lined up a share sale that would rake in $32.5 million.

Tellurian secures $32.5 million through share sale
Courtesy of Tellurian

The company developing the 27.6 mtpa Driftwood project in Louisiana, has entered into a securities purchase agreement with certain institutional investors for the sale of 35,000,000 shares.

The shares will be priced at $1.00 per share for total gross proceeds of $35,000,000.

The offering will generate net cash proceeds of approximately $32.5 million after deducting estimated expenses in connection with the offering, Tellurian said in its statement.

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Tellurian, Petronet renew Driftwood LNG talks

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Posted: 7 months ago

The funds add momentum to the Driftwood LNG project after Tellurian reportedly restarted talks with India’s Petronet LNG over a $2.5 billion investment in the project.

Tellurian expects its Driftwood LNG project to top at a $28.9 billion price tag. The project is shovel-ready after it has secured critical permits in 2019.