ROTH Capital Partners Acts as Sole Placement Agent
for Tellurian, Inc. (NASDAQ: TELL) in its
$56 Million Registered Direct Note Offering

   

For more information please contact:

Investment Banking
Alexander Montano
Managing Director
(949) 720-5770
amontano@roth.com
 
Otilia (Tilin) Chen
Director
(949) 720-5771
tchen@roth.com
 
Dustin F. Cabrera
Vice President
(949) 720-7136
dcabrera@roth.com

 
Equity Capital Markets
Aaron Gurewitz
Head of Equity
Capital Markets
(949) 720-5703
agurewitz@roth.com
 
Nazan Akdeniz
Senior Vice President
(949) 720-5740
nakdeniz@roth.com
 
Lou Ellis
Senior Vice President
(949) 720-5739
lellis@roth.com

Transaction Information
Tellurian, Inc. (NASDAQ: TELL) has sold $56 million of zero coupon, unsecured notes and provided the lender with warrants to purchase up to 20 million shares of Tellurian common stock. In conjunction with the financing, Tellurian also entered into an agreement to amend its 2019 Term Loan, including a reduction of the principal amount by $17.1 million. The agreement provided for a paydown of $2.1 million in cash, converts $15 million of principal value into equity through the issuance of approximately 9.3 million shares to the lender, and provided the lender with warrants to purchase up to approximately 4.7 million shares of Tellurian common stock.

Tellurian’s unaudited cash and cash equivalents balance proforma for the financing transaction would have been approximately $100.7 million as of March 31, 2020.

President and CEO Meg Gentle said, “Tellurian is building cash reserves during this challenging time in global markets, positioning for a strong emergence from COVID-19 restrictions. We remain bullish on long-term natural gas demand growth, underscoring the acute need for Driftwood LNG.”

Alexander G. Montano, Managing Director at ROTH Capital Partners added “During unique times, creative financing solutions are required. It was a pleasure working with Tellurian to provide several options to meet their near term objectives. We are glad that one of those options, this Note Offering, was the right fit.”

ROTH Capital Partners acted as sole placement agent for the offering.

About Tellurian Inc.
Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian is developing a portfolio of natural gas production, LNG trading, and infrastructure that includes a ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the Nasdaq Capital Market under the symbol “TELL”.  For more information, please visit www.tellurianinc.com. (Source: Company Press Release | 04.29.20)

About ROTH Capital Partners
ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and maintains offices throughout the U.S. For more information on ROTH, please visit www.roth.com.

Date of Announcement: 05.07.20

The material, information and  facts discussed in this announcement other than the information regarding ROTH Capital Partners, LLC ("ROTH") and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This announcement should not be used as a complete analysis of any companies, securities or topics discussed herein. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this announcement are subject to change without notice. An investment in any security based on this announcement may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, such investments may involve a high degree of risk and may not be suitable for all investors. No part of this announcement may be reproduced in any form without the express written permission of ROTH. Copyright 2018.