Microsoft sued by Australia competition regulator over Copilot, 365 pricing
NEW YORK - Tamboran Resources Corporation (NYSE:TBN, ASX: TBN), currently valued at $450 million in market capitalization, has priced its previously announced underwritten public offering of 2,324,445 shares of common stock at $21.00 per share, the company announced in a press release.
The offering is expected to generate gross proceeds of approximately $48.8 million before deducting underwriting discounts, commissions, and offering expenses. The company has also granted underwriters a 30-day option to purchase up to an additional 348,666 shares at the public offering price. According to InvestingPro data, analysts maintain a bullish outlook on TBN, with price targets ranging from $30 to $53.
According to the statement, Tamboran intends to use the net proceeds to fund its development plan, working capital, and other general corporate purposes.
The offering is expected to close on Thursday, subject to customary closing conditions.
RBC Capital Markets, LLC, Wells Fargo Securities, LLC, and BofA Securities are serving as joint book-running managers for the offering.
Tamboran Resources describes itself as a natural gas exploration and production company focused on developing resources in the Beetaloo Basin in Australia’s Northern Territory. The company reports holding approximately 1.9 million net prospective acres, making it the largest acreage holder in the Beetaloo Basin. InvestingPro analysis indicates the stock is currently trading near its Fair Value, with a healthy current ratio of 1.55 and more cash than debt on its balance sheet. Get access to 10 additional ProTips and comprehensive financial analysis with an InvestingPro subscription.
The shares are being offered pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission.
In other recent news, Tamboran Resources Corporation reported a significant earnings miss for Q4 2025, with an actual earnings per share (EPS) of -80.52 USD and no revenue, falling short of market expectations. This financial shortfall has been a point of concern for investors, even though the company has achieved operational advancements, including record flow rates from a key well and progress in its drilling campaign. Additionally, Tamboran Resources has announced an underwritten public offering of 2,324,445 shares of common stock, with an option for underwriters to purchase up to an additional 348,666 shares. The company plans to use the proceeds from this offering to fund its development plan and for general corporate purposes. Despite these developments, the market remains cautious due to the ongoing leadership search. Analyst firms have not provided any upgrades or downgrades in response to these announcements. Investors are closely watching how Tamboran Resources navigates these financial and operational challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.