Business
U.S. Energy Corp. Announces Pricing of $5.0 Million Underwritten Public Offering of Common Stock
HOUSTON, Feb. 11, 2021 (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, Feb. 11, 2021 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (Nasdaq: USEG) (the \"Company\"), today announced the pricing of an underwritten public offering of 984,000 shares of its common stock at a price of $5.10 per share, for gross proceeds to the Company of $5,018,400, before deducting underwriting discounts and other offering expenses. In addition, the Company has granted the underwriter a 45-day option to purchase up to an additional 147,600 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 February 17, 2021, subject to customary closing conditions. The shares of common stock are being offered by the Company pursuant to a \"shelf\" registration statement on Form S-3 (File No. 333-248906) previously filed with the Securities and Exchange Commission (the \"SEC\") on September 18, 2020 and declared effective by the SEC on September 25, 2020. A prospectus supplement and accompanying 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 prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting 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 our return on capital in a cost effective ...