Equity OfferingApr 9, 2026, 05:27 PM
Tamboran Resources Secures $97.3 Million in Net Proceeds from Underwritten Offering to Boost Drilling and Resource Delineation
AI Summary
Tamboran Resources Corp. successfully closed an underwritten public offering, generating approximately $97.3 million in net proceeds after deducting offering expenses. The company issued 2,956,602 shares of common stock, with underwriters also granted a 30-day option to purchase an additional 443,491 shares. These funds are earmarked to significantly advance the company's operational objectives, including additional drilling in the Pilot Area, resource delineation in the Orion Acreage and Beetaloo Central Development Area, and drilling in the EP 161 acreage, alongside general working capital needs. This capital raise is crucial for accelerating Tamboran's exploration and development activities in its key assets.
Key Highlights
- Tamboran Resources Corp. completed an underwritten offering of 2,956,602 shares of its Common Stock.
- The offering generated approximately $97.3 million in net proceeds for the company, after accounting for discounts, commissions, and estimated offering expenses.
- The Underwriters, led by RBC Capital Markets, LLC and Wells Fargo Securities, LLC, were granted a 30-day option to purchase up to an additional 443,491 shares of Common Stock.
- Proceeds are intended to fund additional drilling in the Pilot Area, resource delineation in the Orion Acreage and Beetaloo Central Development Area, and drilling in the EP 161 acreage.
- The Underwriting Agreement was entered into on April 7, 2026, and the offering closed on April 9, 2026.