Venture Global LNG Announces Successful Close to Private Funding Round: Aggregate Funding Total Reaches $361 Million
May 25, 2017, 09:33 ET
WASHINGTON, May 25, 2017 /PRNewswire/ -- Venture Global LNG, Inc. announces that it has raised additional capital of approximately $81.4 million, in its sixth round of equity investment. The offering was notable for the inclusion of additional high profile, very large institutional investors in the company. The offering, a private Reg. D transaction, brings the company's aggregate funding total to $361 million.
In response to the capital raise, Co-CEOs, Mike Sabel and Bob Pender stated, "This private placement represents the capital markets continued confidence in our ability to execute on our development of 30 million tons of LNG production. By 2021 we expect to launch commercial operations for Calcasieu Pass and deliver the lowest cost LNG from North America to the global market."
The proceeds of this most recent Reg. D transaction will fund Venture Global's development activities for its proposed LNG export facilities in Louisiana.
Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC acted as co-placement agents in connection with the offering.
About Venture Global LNG
Venture Global LNG plans to be a long-term, low-cost producer of LNG, capitalizing on low-cost natural gas production in the U.S. Venture Global LNG's strategy is reinforced by GE's highly efficient and reliable suite of products. Venture Global is developing LNG export terminals at both Plaquemines and Calcasieu Pass, totaling 30 MTPA of capacity. More can be found at www.venturegloballng.com
SOURCE Venture Global LNG