Tamboran Resources prices $48.8 million public stock offering

Tamboran Resources Corporation (NYSE: TBN, ASX: TBN) priced an underwritten public offering of 2,324,445 shares of common stock at $21.00 per share, according to a company statement.

The natural gas exploration company granted underwriters a 30-day option to purchase up to an additional 348,666 shares at the public offering price. Gross proceeds from the offering are expected to reach $48.8 million before deducting underwriting discounts, commissions and offering expenses, excluding any exercise of the underwriters' option.

Tamboran stated it intends to use net proceeds to fund its development plan, working capital and general corporate purposes. The offering is expected to close on October 24, 2025, subject to customary closing conditions.

RBC Capital Markets, Wells Fargo Securities and BofA Securities are serving as joint book-running managers for the offering. The shares are being offered through an effective shelf registration statement previously filed with the Securities and Exchange Commission.

Tamboran focuses on commercial development of natural gas resources in Australia's Beetaloo Basin within the Northern Territory. The company holds approximately 1.9 million net prospective acres through its subsidiaries and describes itself as the largest acreage holder in the Beetaloo Basin.

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