Univest Securities Completes $1.2 Million Offering for Houston American Energy
Univest Securities Achieves $1.2 Million Offering Close
Univest Securities, LLC, a respected investment bank and securities broker-dealer based in New York, has successfully closed a registered direct offering for its client, Houston American Energy Corp. (NYSE American: HUSA). This significant achievement marks a critical step for the independent oil and gas company, enhancing its capital resources for future endeavors.
Details of the Offering
The offering, which took place under the guidance of Univest, involved the sale of an aggregate of 81,629 shares of common stock to an institutional investor. Shares were sold at a price of $14.80 each, leading to gross proceeds of approximately $1.2 million. After accounting for the placement agent's fees and other expenses, the net proceeds expected to be around $1 million are earmarked for general corporate purposes.
Role of Univest Securities
Acting as the sole placement agent for this offering, Univest Securities has played a pivotal role in facilitating this transaction. The firm has a notable reputation for providing comprehensive financial services, from investment banking to advisory solutions, demonstrating its capabilities in the market.
Regulatory Background
The registered direct offering was conducted in accordance with a shelf registration statement that was previously filed with the U.S. Securities and Exchange Commission (SEC). This registration statement was officially declared effective, allowing the company to proceed with the offering smoothly. Interested parties can find detailed information, including the final prospectus supplement, through the SEC's official resources.
Company Characteristics
Houston American Energy Corp. is an independent player in the oil and gas sector, focusing on the acquisition and development of natural resources. The company operates primarily in well-known regions rich in oil and gas, such as the Texas Permian Basin and Louisiana's Gulf Coast.
Future Prospects for Houston American Energy
The infusion of capital from this offering positions Houston American Energy to pursue its business objectives more effectively. The company aims to enhance its exploration and production capabilities, ultimately striving for growth and success in a competitive market. With ongoing developments in energy markets, Houston American Energy is poised to capitalize on potential opportunities.
About Univest Securities
Established in 1994 and registered with FINRA, Univest Securities provides a range of financial services globally. Their offerings include brokerage services, market making, and advisory functions. The firm emphasizes a client-centric approach, focusing on building long-term relationships and delivering exceptional value to its diverse clientele.
Conclusion
In summary, Univest Securities has successfully facilitated a notable capital raise for Houston American Energy Corp. The closure of this registered direct offering showcases both the capability of Univest as a financial intermediary and the strategic positioning of Houston American Energy for future growth and operational success in the oil and gas sector.
Frequently Asked Questions
What is the amount raised in the offering by Houston American Energy?
The offering raised approximately $1.2 million in gross proceeds for Houston American Energy.
Who acted as the placement agent for the offering?
Univest Securities, LLC served as the sole placement agent for the transaction.
What will the proceeds from the offering be used for?
The net proceeds will be utilized for general corporate purposes, enhancing the company's operational capabilities.
Where can I find more information about regulatory filings?
Information about the offering and related filings can be accessed through the SEC’s official website.
What does Houston American Energy Corp. primarily focus on?
The company focuses on the acquisition, exploration, and production of crude oil, natural gas, and condensate in various strategic regions.
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