Tellurian Terminated Distribution Agency Agreement, Dated As Of December 30, 2022, By And Between Tellurian And T.R. Winston & Company; As Of May 2, 2024, Co Had Availability To Raise Aggregate Gross Sales Proceeds Of ~$348.7M Under Virtu ATM Agreement; Distribution Agency Agreement, Dated As Of March 15, By And Between Tellurian And Virtu Americas Llc Remains In Effect
Portfolio Pulse from Benzinga Newsdesk
Tellurian Inc. has terminated its Distribution Agency Agreement with T.R. Winston & Company, initially dated December 30, 2022. Despite this termination, Tellurian maintains an active Distribution Agency Agreement with Virtu Americas LLC as of March 15, allowing the company to raise up to approximately $348.7 million in aggregate gross sales proceeds under the Virtu ATM agreement, according to an SEC filing.
May 03, 2024 | 8:54 pm
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NEUTRAL IMPACT
Tellurian Inc. terminated its agreement with T.R. Winston & Company but continues its financial arrangement with Virtu Americas LLC, enabling significant capital raising capabilities.
The termination of the agreement with T.R. Winston & Company might initially seem negative, but the continued relationship with Virtu Americas LLC and the ability to raise substantial funds through this agreement mitigates potential negative impacts. The news indicates a strategic shift rather than a loss of financial options, which is why the impact is considered neutral with a high relevance to Tellurian's financial strategy.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90