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Tellurian Transfers TELL Listing to the NYSE American
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Tellurian Inc. is transitioning its stock listing from Nasdaq Capital Market to NYSE American, effective November 2, 2021, maintaining the ticker symbol 'TELL'. Executive Chairman Charif Souki highlighted the necessity for enhanced liquefaction export capacity amid global natural gas shortages. The company is preparing for the construction phase of the Driftwood LNG project with its partner Bechtel, aiming to enhance its operations in the natural gas industry. Tellurian is focused on building a low-cost, global natural gas business to increase shareholder value.
Positive
Transfer of listing to NYSE American could enhance visibility and liquidity for shareholders.
Regulatory permits and commercial success achieved for Driftwood LNG phase one development.
Progress in site preparation for Driftwood LNG project, with construction expected to start in Q1 2022.
Negative
None.
HOUSTON--(BUSINESS WIRE)--
Tellurian Inc. (Tellurian) announced today it will transfer the listing of its common stock from the Nasdaq Capital Market to the NYSE American.
Executive Chairman Charif Souki said, “Global natural gas shortages and recent history-making prices indicate the pressing need for additional liquefaction export capacity in the United States. Tellurian is poised to contribute to America’s status as an energy superpower, having achieved both regulatory permits and commercial success for Driftwood LNG phase one development. We have turned our focus to putting together a world class banking group and have started site preparation, in advance of giving our partner Bechtel notice to proceed with construction expected first quarter 2022. Transferring our stock listing to the NYSE American allows us to leverage the exchange’s prestigious trading platform for our shareholders’ benefit.”
“We’re excited to welcome Tellurian as it transfers to NYSE American and joins our community of innovators and disruptors,” said John Tuttle, Vice Chairman and Chief Commercial Officer, NYSE Group. “We look forward to working with Tellurian as it supplies the world with a reliable, clean energy supply.”
Tellurian expects its common stock to begin trading on the NYSE American on November 2, 2021 and will remain under the current symbol “TELL”. Trading of the common stock on its current platform is expected to continue until the close of business on November 1, 2021.
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 marketing and trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas.
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “assume,” “believe,” “budget,” “estimate,” “expect,” “forecast,” “initial,” “intend,” “may,” “plan,” “potential,” “project,” “proposed,” “should,” “will,” “would,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements herein relate to, among other things, the capacity, timing, and other aspects of the Driftwood project, the transfer of listing of the common stock, including the dates on which trading will end on Nasdaq and begin on the NYSE American, the timing of a notice to proceed with construction of the Driftwood project, and shareholder value. These statements involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include the matters discussed in Item 1A of Part I of the Annual Report on Form 10-K of Tellurian for the fiscal year ended December 31, 2020 filed by Tellurian with the Securities and Exchange Commission (the SEC) on February 24, 2021, and other Tellurian filings with the SEC, all of which are incorporated by reference herein. The forward-looking statements in this press release speak as of the date of this release. Although Tellurian may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws.
