10:42 AM EDT, 05/13/2025 (MT Newswires) -- Tamboran Resources ( TBN ) said Tuesday it agreed to issue about $55.4 million in common shares to institutional investors as private investment in public equity.

The agreement covers about 3.1 million shares at $17.74 apiece, the company said.

Tamboran expects to close an initial $44.4 million of the investment on Friday, while the remaining amount is conditional on stockholders' authorization.

The company said it will be fully funded to drill and complete the remaining three wells after completion of the private investment.

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