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Tellurian (NYSE:TELL) closed -14.1% in Friday’s buying and selling to wrap up a unstable week, after new chairman Martin Houston mentioned in a letter to shareholders that the corporate appointed a monetary advisor for help with balance sheet management.
Houston, who took over as chair three weeks in the past from former chair and co-founder Charif Souki after auditors raised doubts concerning the firm’s potential to cowl future bills, mentioned Tellurian (TELL) has lower basic and administrative prices by almost 50%.
Earlier this week, the corporate mentioned it swapped $37.9M in notes from a 2025 bond for shares and an settlement that eradicated a debt fee due January 1.
Tellurian (TELL) shares had been rising after the corporate disclosed that Chatterjee Fund Administration had raised its stake within the firm to 7.3% from 5.2% beforehand.
The publish Tellurian shares sink after company hires balance sheet advisor (NYSE:TELL) first appeared on Investorempires.com.
