U.S. Energy Corp. Announces a Full Exercise of the Over-Allotment Option and Closing of $3.45 million Underwritten Offering

About this update from U.s. Energy Corp.

[{"type":"text","content":"HOUSTON, Nov. 16, 2020 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (Nasdaq: USEG) (the \"Company\"), today announced the full exercise of the over-allotment option granted to the underwriters with respect to 150,000 additional shares of common stock, and closing of the previously announced underwritten public offering of 1,000,000 shares, bringing the total gross proceeds from the offering to $3,450,000 million before deducting underwriting discounts and other offering expenses. The Company intends to use the net proceeds from this offering to fund potential future acquisitions of oil and gas properties, capital expenditures, working capital, and general corporate purposes.\n Kingswood Capital Markets, division of Benchmark Investments, Inc., acted as sole bookrunner for the offering. The shares of common stock were offered by the Company pursuant to a registration statement on Form S-1, as amended (File No. 333-249738) previously filed with the Securities and Exchange Commission (the \"SEC\") on October 30, 2020 and declared effective by the SEC on November 12, 2020. The offering was made only by means of a prospectus, forming a part of the effective registration statement. A final prospectus relating to the shares of common stock being offered was filed with the SEC. The Company will also file a Form 8-K in connection with the underwriting agreement and the closing of the offering. Electronic copies of the final prospectus may be obtained on the SEC's website at http://www.sec.gov or by Kingswood Capital Markets, Attention: Syndicate Department, 17 Battery Place, Suite 625, New York, NY 10004, by telephone at (212) 404-7002, or by email at [email protected]. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About U.S. Energy Corp. U.S. Energy is an independent energy company focused on the acquisition and development of oil and gas producing properties in the United States. Our business is currently focused on targeting mature, low decline assets with existing infrastructure, which we believe allows us to maximize o...

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