Why Tellurian Stock Is Surging Today

(NYSEMKT: TELL) stock is making big gains in Thursday's trading. The liquified natural gas specialist's share price was up 7.4% as of 12:15 p.m. ET, according to data from S&P Global Market Intelligence.

Tellurian submitted a filing to the Securities and Exchange Commission (SEC) today stating that it will be issuing stock to an institutional shareholder in exchange for debt held through bonds being relinquished. The move should improve the energy company's financial flexibility, and the market appears broadly bullish on the development.

In addition to the stock issue and bond extinguishment, a separate filing submitted to the SEC yesterday showed that another institutional investor had increased its position in Tellurian.

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Source Fool.com