Tellurian $100.7 million stock offering
Davis Polk advised the sole book-running manager in connection with an SEC-registered offering of 35,000,000 shares of common stock of Tellurian Inc. The net proceeds from the offering were approximately $100.7 million, which Tellurian Inc. intends to use for general corporate purposes, including the potential acquisition of upstream assets. The common stock is listed on the Nasdaq Capital Market under the symbol “TELL.”
Tellurian creates value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian’s existing natural gas assets consist of 9,704 net acres and interests in 72 producing wells located in the Haynesville Shale trend of northern Louisiana.
The Davis Polk capital markets team included partner Derek Dostal and associates Arisa Akashi and Aaron Shubert. The tax team included partner Po Sit and associate Ben Levenback. All members of the Davis Polk team are based in the New York office.