Tellurian (TELL -5.7%) has introduced that Driftwood Holdings has amended phrases of senior secured loans, permitting for the maturity date to be prolonged to March 23, 2022, from November 23, 2021
As a situation to the effectiveness of the modification, The corporate pays down the loans on a professional rata foundation by $12M.
Firm additionally reduces the variety of shares issuable upon the train of warrants dated as of April 29 and scale back the mixture variety of shares issuable to the holder upon its train of the NCS Warrant Settlement from 8.8M to six.8M, and 4.7M to 4.2M shares (second NCS Warrant Settlement).
Not too long ago, the corporate acquired Nasdaq delisting warning.
YTD the shares have plunged ~88%.