Tamboran Resources prices $103.5M public offering at $35.00 a share

Tamboran Resources (TBN [https://seekingalpha.com/symbol/TBN]) has announced pricing of a public offering of common stock [https://seekingalpha.com/pr/20465345-pricing-of-public-offering-of-common-stock] to raise funds via issuance of 2.96M shares at $35.00 each, with an option for underwriters to buy an additional 443,491 shares within 30 days.

The expected gross proceeds are $103.5M, excluding any proceeds from the additional shares.

The net proceeds will fund additional drilling in the Pilot Area, resource delineation in the Orion Acreage and Beetaloo Central Development Area, drilling in EP 161, working capital, and other corporate purposes.

The offering is set to close on April 9, 2026.

RBC Capital Markets and Wells Fargo Securities are the joint book-running managers for this offering.

The stock dropped sharply in after-hours trading, falling as low as $38.50 (a ~15% decline) on Tuesday.

MORE ON TAMBORAN RESOURCES

* Tamboran Resources launches nearly 3M-share public offering [https://seekingalpha.com/news/4573148-tamboran-resources-launches-nearly-3m-share-public-offering]
* Seeking Alpha’s Quant Rating on Tamboran Resources [https://seekingalpha.com/symbol/TBN/ratings/quant-ratings]
* Historical earnings data for Tamboran Resources [https://seekingalpha.com/symbol/TBN/earnings]
* Financial information for Tamboran Resources [https://seekingalpha.com/symbol/TBN/income-statement]