Tellurian Inc (AMEX:TELL), a natural gas company headquartered in Houston, has been on an incredible run, up 45% throughout the last six months.
Tellurian has gotten a major boost from the increased demand for domestic natural gas following the Russian invasion of Ukraine which has limited the amount of natural gas being exported from that region.
What’s Going On: Today, however, Tellurian’s stock is down nearly 8% at press time, underperforming other companies in the space such as Cheniere Energy Inc (NYSEAMERICAN:LNG) and Shell PLC (NYSE:SHEL).
According to a press release from the company, Tellurian entered an agreement to sell $500M of senior-secured convertible notes.
The notes will expire in 2025 and carry a 6% per annum interest rate.
Price Action: Tellurian has a 52-week high of $6.54 and a 52-week low of $2.23.
