WASHINGTON (dpa-AFX) - U.S. Energy Corp. (USEG), an energy company, Wednesday announced the pricing of its underwritten public offering of approximately 4.2 million shares of its Class A common stock at $2.65 per share.
The offering is expected to generate approximately $10.5 million in net proceeds, which will be used to fund growth capital for the company's industrial gas development projects and support upcoming operational activities.
Additionally, the company has granted underwriters an option to purchase up to 635,400 additional shares through an overallotment option.
The public offering is slated to close on January 23.
USEG is currently trading at $3.15 down 16.83 percent or $0.63 on the Nasdaq.
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