India, April 8 -- Shares of Tamboran Resources Corporation (TBN) declined sharply following a public offering of 2.96 million shares.
The stock is currently trading at $35.21, down $10.13 or 22.35%, on the NYSE. It opened at $37.25 after closing the previous session at $45.34. The stock has traded between $17.29 and $52.21 over the past 52 weeks.
Tamboran priced an underwritten offering of 2.96 million shares at $35.00 per share, raising approximately $103.5 million in gross proceeds.
The proceeds will be used to fund drilling programs, resource development across key acreage, and general corporate purposes.
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