Tamboran outlines terms and limits of A$283m equity raising and retail entitlement offer

Tamboran Resources Limited ( (AU:TBN) ) has issued an update.

Tamboran Resources Corporation has launched an accelerated, non-renounceable pro rata entitlement offer to existing investors, as part of a broader equity raising of about US$198 million, including a US$103.5 million fully underwritten U.S. public offering. The retail entitlement offer, partly underwritten by RBC Capital Markets and E&P Capital for up to A$24 million, is priced at A$0.25 per new CDI on a 1-for-10 basis, with eligibility restricted to holders in selected jurisdictions, leaving ineligible securityholders unable to participate and potentially affected by dilution.

The company determined it would be unreasonable to extend the retail offer beyond Australia, New Zealand, Luxembourg, South Korea, Switzerland and the U.K., citing small holder numbers, limited entitlement value and high compliance costs elsewhere. Institutional components of the raising, including the institutional entitlement offer and the underwritten U.S. offering, have already closed, and the current notification primarily informs excluded investors of their ineligibility and the possible financial implications of the capital raising structure.

More about Tamboran Resources Limited

Tamboran Resources Corporation, dual listed on the NYSE and ASX under the ticker TBN, operates in the energy sector and raises capital through equity markets using common stock and CHESS Depositary Interests. The company targets both institutional and retail investors across multiple jurisdictions, reflecting a broad market focus within Australia, New Zealand, Luxembourg, South Korea, Switzerland and the United Kingdom.

Average Trading Volume: 2,806,457

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$1.3B

See more data about TBN stock on TipRanks’ Stock Analysis page.