Cheniere Energy Inc. said Monday that it plans to sell 20 million shares in a public offering as it tries to raise funds to pay off notes due next month, among other costs.

The company also granted underwriters the option to sell an additional 3 million shares to cover excess demand.

Cheniere intends to use the net proceeds from the offering to pay back $204.6 million in 2.25 percent notes due on Aug. 1, as well as for capital expenditures on its Creole Trail Pipeline and other general corporate costs.

The move did not appear to go over well with investors, who sent Cheniere shares sharply lower.

Shares ended regular trading down 61 cents, or nearly 4 percent, at $14.69. The stock slid further in the extended session, slipping another 62 cents, or 4.2 percent, to $14.07.