By Chris Wack
Tellurian Inc. shares were down 17% to $3.25 after the company said that, due to uncertain conditions in the high-yield market, it has withdrawn its proposed public offering of units consisting of 11.25% senior secured notes due 2027 and warrants to buy shares of its common stock.
The company said on Aug. 29 it would sell the units.
Tellurian said in August it would use the proceeds to support the construction of its Driftwood project, which is a liquefaction export facility under way near Lake Charles, La.