By Adnan Bajic US LNG export project developer, Tellurian has secured a $50 million financing in a push to build cash reserves.
Driftwood LNG project developer noted that the financing has been secured through a deal to sell $56 million notes for gross proceeds of $50 million and provide the lender with warrants to purchase up to 20 million shares of Tellurian common stock, subject to customary closing conditions.
In conjunction with this financing, Tellurian has also entered into an agreement to amend its 2019 term loan, including a reduction of the principal amount by $17.1 million.
The company noted in its statement that
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