U.S. Energy Corp. Completes Successful Stock Offering Step

U.S. Energy Corp. Successfully Concludes Stock Offering

U.S. Energy Corp. (NASDAQ: USEG), a forward-looking company in the energy sector, has recently completed a significant underwritten public offering consisting of 4,871,400 shares of common stock. This offering included 635,400 shares sold as a result of the underwriters fully exercising their over-allotment option. The shares were priced at $2.65 each, enabling the company to secure total net proceeds of approximately $12.1 million after accounting for underwriting commissions.

Strategic Use of Proceeds for Growth Initiatives

The proceeds from this stock offering are earmarked for vital growth strategies, particularly aimed at enhancing U.S. Energy's industrial gas development project. This includes not just the drilling of new industrial gas wells but also the establishment of processing plants and acquisition of necessary equipment. Additionally, part of the funds from the overallotment option exercise may be directed towards purchasing shares of common stock from Sage Road Capital, LLC or its affiliates, reflecting the company's strategic investments into its operations.

Expert Guidance and Support

Roth Capital Partners served as the sole book-running manager for this public offering. They were joined by Johnson Rice & Company and D. Boral Capital as co-managers, ensuring that the offering was expertly handled in a professional environment. Legal representation for U.S. Energy in this matter was provided by The Loev Law Firm, PC, while K&L Gates LLP guided the underwriters.

Compliance and Transparency in Offerings

This offering operated under a previously established shelf registration statement on Form S-3, which was effectively filed and became accessible to the public via the U.S. Securities and Exchange Commission (SEC) on September 15, 2022. Interested parties have the ability to access detailed information about the offering through the SEC's website. Copies of relevant prospectus materials are also attainable by request through Roth Capital Partners, showing U.S. Energy's commitment to transparency and compliance.

Introducing U.S. Energy Corp.

Founded as a growth-oriented company, U.S. Energy Corp. is focused on consolidating prime assets across the United States. Their mission is to optimize production while fostering free cash flow through low-risk developments. As part of their operational ethos, U.S. Energy is dedicated to reducing carbon emissions and enhancing sustainable practices across their business activities. In a constantly evolving energy market, U.S. Energy aims to be at the forefront by continuously adapting and improving their offerings.

Investor Relations and Contact Information

The Investor Relations team at U.S. Energy is available for inquiries and further information. Mason McGuire can be reached via email at IR@usnrg.com or by phone at (303) 993-3200. For additional insights, interested parties can also visit their corporate website at www.usnrg.com.

Frequently Asked Questions

What was the total number of shares offered by U.S. Energy Corp.?

The company offered a total of 4,871,400 shares of its common stock, which included an over-allotment of 635,400 shares exercised by underwriters.

How does U.S. Energy Corp. plan to use the proceeds from the offering?

The proceeds will support growth capital for its industrial gas development project, including new gas wells and processing infrastructure.

Who managed the public offering of U.S. Energy Corp.?

The public offering was managed by Roth Capital Partners, along with co-managers Johnson Rice & Company and D. Boral Capital.

Where can I find information about the public offering?

Details regarding the offering can be found on the U.S. Securities and Exchange Commission's website and through Roth Capital Partners by request.

What is the focus of U.S. Energy Corp. as a company?

U.S. Energy Corp. focuses on consolidating high-potential assets in the U.S. to optimize production, generate cash flow, and emphasize sustainable development.

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