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U.S. Energy Corp. Announces Pricing of $3.0 Million Underwritten Public Offering of Common Stock
HOUSTON, Nov. 12, 2020 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (Nasdaq: USEG) (the "Company"), today announced the pricing of an underwritten public offering of
About this update from U.s. Energy Corp.
[{"type":"text","content":"HOUSTON, Nov. 12, 2020 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (Nasdaq: USEG) (the \"Company\"), today announced the pricing of an underwritten public offering of 1,000,000 shares of its common stock at a price of $3.00 per share, for gross proceeds to the Company of $3,000,000, before deducting underwriting discounts and other offering expenses. The Company intends to use the net proceeds from this offering for general corporate purposes, capital expenditures, working capital, and potential acquisitions of oil and gas properties.\n In addition, the Company has granted the underwriter a 45-day option to purchase up to an additional 150,000 shares of common stock offered in the public offering to cover over-allotments, if any. Kingswood Capital Markets, division of Benchmark Investments, Inc., is acting as sole bookrunner for the offering. The offering is expected to close on November 16th, 2020, subject to customary closing conditions. The shares of common stock are being offered by the Company pursuant to a registration statement on Form S-1 (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 will be 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 will be 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, when available, 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 p...