TBN’s US$198mm (A$283mm) capital raise materially strengthens its funding position and underpins a fully financed pathway through a critical development window to 2028. The structure combines a US$103mm underwritten public offer, a US$60mm accelerated entitlement offer and up to US$35mm of additional proceeds, with pricing at US$35/sh (~23% discount to the previous close) to ensure execution certainty and broad participation. Pro forma liquidity of up to ~US$320mm, alongside partner carry, leave ....
