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Tamboran Resources Limited ( (AU:TBN) ) has shared an announcement.
Tamboran Resources Corporation has launched a major capital raising that combines an underwritten U.S. public offering with an accelerated non-renounceable pro rata entitlement offer to existing investors. The offer, priced at US$0.175 per new CDI or US$35 per new share, aims to raise up to about US$198 million through the issue of new CHESS Depositary Interests and common stock.
The retail entitlement component includes an oversubscription facility and potential shortfall placement over three months, enabling eligible investors to apply for additional securities beyond their pro rata allocation. The company states it does not expect the raising to materially affect control due to its pro rata structure, though non-participating and ineligible holders will be diluted while those accessing oversubscriptions may increase their stakes.
The most recent analyst rating on (AU:TBN) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Tamboran Resources Limited stock, see the AU:TBN Stock Forecast page.
More about Tamboran Resources Limited
Tamboran Resources Corporation is a dual-listed energy company trading on the NYSE and ASX that issues CHESS Depositary Interests and common stock. The company operates within the resources and energy sector, using equity markets in Australia and the United States to fund its development and growth initiatives across its asset base.
Average Trading Volume: 2,453,998
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$1.41B
For an in-depth examination of TBN stock, go to TipRanks’ Overview page.