Norton Rose Fulbright Advises Tamboran on A$283M First‑of‑its‑Kind NYSE‑ASX Dual‑Market Capital Raise to Advance Beetaloo Basin Development

"Global law firm Norton Rose Fulbright advised Tamboran Resources on a first‑of‑its‑kind dual‑market capital raise on the ASX and NYSE to fund Beetaloo Basin gas development, seeking up to A$283 million. The structure combined a fully underwritten US registered public offering (institutional shares at US$35) with an underwritten pro‑rata accelerated entitlement offer across Australia, the US and other jurisdictions, enabled by bespoke regulatory coordination including ASIC relief allowing investors to choose US common stock or CHESS Depositary Interests. Tamboran completed the US offering (including a fully exercised greenshoe) raising about A$170 million, plus roughly A$86 million from the institutional entitlement component, with up to A$27 million expected from the retail entitlement. Norton Rose Fulbright’s team, led in Australia by partner Ashley Rose, handled the cross‑jurisdictional regulatory and capital markets work."

Norton Rose Fulbright advised Tamboran Resources Corporation (NYSE: TBN, ASX: TBN) on its cross‑border capital raise. The transaction was a dual‑market capital raise of up to A$283 million to advance development activities in the Beetaloo Basin. It combined a fully underwritten registered US public offering (pursuant to an SEC‑filed registration statement and prospectus supplement) and an underwritten pro rata accelerated non‑renounceable entitlement offer in Australia, the US and other jurisdictions. The institutional component was structured as a registered direct offer of common stock at US$35 per share to qualified institutional buyers and accredited investors, with bespoke regulatory coordination (including ASIC relief allowing institutional investors to elect to receive either US registered common stock or CHESS Depositary Interests (CDIs)). The US offering closed with the underwriters fully exercising their greenshoe, raising approximately A$170 million in gross proceeds, the institutional entitlement raised about A$86 million, and the underwritten retail entitlement is expected to raise up to a further A$27 million via CDIs to eligible retail holders across Australia, New Zealand, Luxembourg, South Korea, Switzerland and the UK. This was described as a first‑of‑its‑kind dual ASX/NYSE structure that preserves pro rata participation for existing investors. The Norton Rose Fulbright team included: Ashley Rose (partner; led the Australian aspects; capital markets/public M&A), Sarah Roper (senior associate; capital markets/public M&A), Georgia Mateer (associate; capital markets/public M&A), James Newman (associate; capital markets/public M&A), Georgia Dixon (associate; capital markets/public M&A), Alice Zhao (associate; capital markets/public M&A), Katherine Petsoglou (lawyer; capital markets/public M&A), Greg Reinhardt (partner; tax) and Abhishek Shekhawat (senior associate; tax).

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Norton Rose Fulbright Advises Tamboran on A$283M First‑of‑its‑Kind NYSE‑ASX Dual‑Market Capital Raise to Advance Beetaloo Basin Development

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Norton Rose Fulbright Advises Tamboran on A$283M First‑of‑its‑Kind NYSE‑ASX Dual‑Market Capital Raise to Advance Beetaloo Basin Development

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