Tellurian Inc. (NASDAQ:TELL) Files An 8-K Other EventsItem 8.01
On April 18, 2017, Tellurian Investments Inc., a subsidiary of Tellurian Inc. (“Tellurian” or the “Company”), Martin Houston, a director of the Company, and certain other persons (collectively, the “Defendants”) entered into a Compromise Settlement Agreement and Mutual Release (the “Settlement Agreement”) with Simon M. Bonini and Paul C. Kettlety (collectively, the “Plaintiffs”) and the Plaintiffs’ counsel, Schiffer Odom Hicks & Johnson, PLLC, a Texas professional limited liability company (“Schiffer Odom”), in connection with a previously disclosed lawsuit against the Defendants in which the Plaintiffs asserted various causes of action and requested various remedies. to the Settlement Agreement, among other things, (i) Mr. Houston agreed to transfer a total of 2,000,000 shares of Tellurian common stock owned by Mr. Houston (the “Transferred Shares”) to the Plaintiffs and Schiffer Odom, comprised of 825,000 shares to each of the Plaintiffs and 350,000 shares to Schiffer Odom; (ii) the Company agreed to file a prospectus supplement with respect to the resales of the Transferred Shares by the Plaintiffs and Schiffer Odom; and (iii) the Plaintiffs released all claims against the Defendants.
About Tellurian Inc. (NASDAQ:TELL)
Tellurian Inc., formerly Magellan Petroleum Corporation, is an oil and gas exploration and production company. The Company focuses on the development of liquefied natural gas (LNG) projects along the United States Gulf Coast through its subsidiary, Tellurian Investments Inc. The Company owns interests in the Horse Hill-1 well and related licenses in the Weald Basin, onshore the United Kingdom, and an exploration block, NT/P82, in the Bonaparte Basin, offshore Northern Territory, Australia. The Horse Hill-1 well has identified prospects from the Portland sandstone and Kimmeridge Clay limestone formations. Tellurian Inc. (NASDAQ:TELL) Recent Trading Information
Tellurian Inc. (NASDAQ:TELL) closed its last trading session up +0.31 at 10.55 with 259,367 shares trading hands.