Cheniere Energy is set to raise as much as $349 million in gross proceeds after pricing a new share offering.

The Houston-based LNG terminal operator and would-be exporter priced the new stock at $8.35 apiece, 10.6% lower than the New York-listed closing level before it unveiled the offering on Tuesday. Cheniere, which owns the Sabine Pass LNG terminal in Louisiana through its Cheniere Energy Partners spin-off, is issuing 36.3