Past year: ▼ 24%(90.0c – 1.50 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
8 Aug 2023capital raising announcement● NeutralMajor
Tellurian raised $333.3 million in new senior secured and convertible notes specifically to redeem the $333.3 million of 6% convertible notes it had issued in June 2022 -- refinancing its largest existing debt rather than retiring it.
29 Apr 2020capital raising announcement▼ Bad
The $56 million note and warrant financing closed, delivering the roughly $47.3 million in proceeds announced the day before.
28 Apr 2020capital raising announcement▼ BadMajor
Tellurian raised $47.3 million in emergency financing via a $56 million senior unsecured note plus warrants on 20 million shares (exercise price $1.542) -- expensive, dilutive capital raised amid the COVID oil crash.
23 Mar 2020capital raising announcement▼ BadMajor
As COVID-19 hammered oil and gas prices, Driftwood Holdings had to prepay $2 million of its 2019 term loan and hand its lender 11 million shares of Tellurian stock just to get relief on fees and an extended maturity -- an early sign of real financial strain.
3 Apr 2019capital raising announcement▲ GoodMajor
TOTAL agreed to invest a further $200 million in Tellurian common stock, but only if Tellurian reached a final investment decision on Driftwood Phase 1 and separately paid $1.0 billion for a 7.2% stake in the project entity, Driftwood Holdings LP -- a much larger, more conditional commitment than TOTAL's 2016 investment.
21 Mar 2018capital raising announcement▲ GoodMajor
Bechtel itself became a Tellurian shareholder, buying 6.1 million shares of a new Series C convertible preferred stock -- aligning its interests as Driftwood's EPC contractor with an equity stake in the project's success.
3 July 2017capital raising announcement● Neutral
Tellurian granted GE registration rights over the common stock GE could receive by converting its preferred stock, a routine follow-on to GE's 2016 investment.
5 Oct 2016capital raising announcement● Neutral
Ahead of the Tellurian merger's close, Magellan agreed to pay off remaining obligations tied to its old Poplar oil field (a contingent production-payment right and its M&A advisor's fee) in stock, cleaning up its balance sheet before the reverse merger.
18 Apr 2016capital raising announcement● NeutralMajor
Magellan borrowed $625,000 from One Stone Holdings II LP to fund transaction costs tied to an Exchange Agreement in which One Stone would hand back all of Magellan's Series A preferred stock in return for taking Magellan's entire US oil and gas subsidiary, Nautilus Poplar, and 51% of another subsidiary -- Magellan was preparing to exit US production entirely.
4 Sept 2012capital raising announcement● Neutral
Magellan granted a large inducement equity award (800,000 options plus 50,000 restricted shares) to new General Counsel C. Mark Brannum.
13 Jan 2012capital raising announcement● Neutral
Magellan granted a further inducement stock option to new hire Wesson Liversage, continuing the same hiring-related equity pattern.
20 Dec 2011capital raising announcement● Neutral
Magellan granted inducement stock options to two new hires, Milam Pharo and Blaine Spies, under Nasdaq's employment-inducement rule -- a routine hiring-related equity grant.
11 Aug 2010capital raising announcement● NeutralMajor
Magellan agreed to sell $15.6 million more stock to strategic investor Young Energy Prize S.A., which would raise director Nikolay Bogachev and YEP's combined stake toward roughly 33% of the company -- a further deepening of a financing relationship already flagged as related-party.
