Letter to Shareholders
Sydney, June 27, 2024 AEST (ABN Newswire) - Tamboran Resources Corporation (
ASX:TBN) (TBNNY:OTCMKTS) today announced the pricing of its initial public offering of 3,125,000 shares of Common Stock at a price to the public of US$24.00 per share, raising gross proceeds of US$75 million to fund the ongoing drilling activities for the proposed Shenandoah South Pilot Project in the Beetaloo Basin.
Tamboran has granted the underwriters a 30-day option to purchase up to an additional 468,750 shares of its common stock at the initial public offering price, less underwriting discount.
The raising was well supported by US$20 million from existing shareholders Sheffield Holdings, LP (an affiliate of Bryan Sheffield) and Liberty Energy.
Tamboran shares will commence trading on the New York Stock Exchange on June 27, 2024, under the ticker symbol "TBN". The offering is expected to close on June 28, 2024, subject to customary closing conditions.
BofA Securities, Citigroup, and RBC Capital Markets are acting as joint book-running managers for the proposed offering. Johnson Rice & Company and Piper Sandler are acting as co-managers for the proposed offering.
About Tamboran Resources Corporation
Tamboran Resources Corporation (ASX:TBN) is a natural gas company that intends to play a constructive role in the global energy transition towards a lower carbon future by developing low CO2 unconventional natural gas resources in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia. Tamboran's key assets are a 25% working interest in EP 161 and a 100% working interest in EP 136, EP 143 and EP(A) 197 which are located in the Beetaloo Sub-basin.
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