Cheniere Energy (LNG) Closes 28M Offering at $14.05; Nets $380.3M

July 20, 2012 10:42 AM EDT
Cheniere Energy, Inc. (AMEX: LNG) announced today the closing of its previously announced underwritten public offering of common stock. The size of the offering had been increased from the previously announced 20,000,000 shares of common stock to 28,000,000 shares, which were sold to the public at a price per share of $14.05.

The net proceeds of the offering, after deducting underwriting discounts and estimated offering expenses, were approximately $380.3 million. Cheniere intends to use the net proceeds from the offering, along with available cash, to repay the $204.6 million principal amount outstanding of the 2.25% convertible notes due August 1, 2012, for capital expenditures on the Creole Trail Pipeline and for general corporate purposes.

The offering was made pursuant to an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission (the "Securities and Exchange Commission"). Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC served as representatives to the underwriters in the offering.

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