U.S. Energy Corporation announced on January 22, 2025, the pricing of its underwritten public offering of 4,236,000 shares of common stock at $2.65 per share. This offering is expected to generate total net proceeds of approximately $10.5 million after underwriting commissions.
The company also granted the underwriters an overallotment option for an additional 635,400 shares. The offering was expected to close on January 23, 2025, subject to customary closing conditions.
U.S. Energy plans to use the net proceeds from this offering to fund growth capital for its industrial gas development project, including new industrial gas wells and processing plant and equipment. This capital raise is a key component in financing the company's strategic pivot and upcoming operations.
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