U.S. Energy Corporation announced on January 23, 2025, the closing of its previously announced underwritten public offering of common stock. The offering included 4,871,400 shares, which incorporated 635,400 shares sold pursuant to the full exercise of the underwriters' over-allotment option.
The shares were offered at a public offering price of $2.65 per share, resulting in total net proceeds of approximately $12.1 million after underwriting commissions. This successful capital raise provides substantial funding for the company's strategic initiatives.
U.S. Energy plans to utilize these net proceeds to fund growth capital for its industrial gas development project, specifically for new industrial gas wells and processing plant and equipment. The funds will also support upcoming operations, accelerating the company's transition and growth in the industrial gas sector.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.