Business
U.S. Energy Corp. Announces Proposed Public Offering of Common Stock
HOUSTON, Feb. 11, 2021 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (Nasdaq: USEG) (the "Company"), today announced its intention to offer its shares of common stock
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 its intention to offer its shares of common stock in an underwritten public offering. In connection with the offering, the Company expects to grant the underwriters a 45-day option to purchase an additional 15% of the shares of its common stock offered in the public offering on the same terms and conditions. The offering is subject to market and other conditions and there can be no assurances as to whether or when the offering may be completed or as to the actual size or terms of the offering. Kingswood Capital Markets, division of Benchmark Investments, Inc., is acting as sole bookrunner for the offering. The offering is expected to close on February 17th, 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 preliminary prospectus supplement describing the terms of the public offering will be filed with the SEC and will form a part of the effective registration statement. 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 preliminary 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 ...