US Energy Corp falls after pricing public offering

Big Sky Industrial

22/01/2025 14:20

** Shares of U.S. Energy Corp  USEG.O  fall ~11% to $3.37
premarket
    ** USEG says it is offering ~4.2 mln shares of common stock
at $2.65 per share for total net proceeds of ~$10.5 million
    ** Offer price is at a ~30% discount to stock's last close
    ** USEG says net proceeds will be used to fund growth
capital for co's industrial gas development project
    ** USEG has ~29.4 mln shares outstanding for $111.3 mln
market cap - LSEG data
    ** Roth Capital Partners is book-running manager for the
offering
    ** USEG gained ~50% in 2024

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))