Why Tellurian Stock Is Plunging Today

Shares of Tellurian (NASDAQ: TELL) tumbled more than 15% by 2:30 p.m. EST on Wednesday. Weighing on the liquified natural gas (LNG) stock was news that it closed a debt offering.   

Tellurian closed its previously announced public offering of senior notes. The company priced the $50 million note offering due in 2028 at 8.25%. After fees and commissions, the company will receive about $47.1 million. It also has granted underwriters the ability to purchase another $7.5 million of notes over the next 30 days. The company noted that it intends to use the funds for general corporate purposes, including the potential acquisition of upstream assets. 

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Source Fool.com