24/7 Market News Snapshot 22 January, 2025 – U.S. Energy Corp. Common Stock (DE) (NASDAQ:USEG)

January 22, 2025

DENVER, Colo., 22 January, 2025 (247marketnews.com) – (NASDAQ:USEG) are discussed in this article.
U.S. Energy Corp. (NASDAQ:USEG) is experiencing a notable surge in pre-market trading, with shares climbing to $3.920, reflecting an increase of 3.43% from the previous close of $3.790. This significant pre-market volume of 17.62 million shares highlights strong investor enthusiasm, suggesting a potential continuation of this upward trend. Technical indicators imply a possible breach of established resistance levels, which could attract further buying interest. Maintaining vigilance on support levels and volume patterns will be essential in gauging whether this bullish momentum can be sustained.

Concurrently, the Company announced the successful pricing of an underwritten public offering of 4,236,000 shares of its Class A common stock at $2.65 per share, which is anticipated to generate approximately $10.5 million in net proceeds. This offering is scheduled to close on January 23, 2025, subject to customary closing conditions. The funds obtained will be strategically deployed to advance the Company’s industrial gas development project, specifically for drilling new industrial gas wells and setting up necessary processing facilities. In addition, if underwriters decide to exercise the overallotment option of 635,400 additional shares, the proceeds will be allocated toward repurchasing shares from Sage Road Capital, LLC.

Roth Capital Partners leads the offering as the sole book-running manager, supported by Johnson Rice & Company and D. Boral Capital as co-managers. This issuance is made viable under a shelf registration statement that came into effect on September 15, 2022. U.S. Energy Corp. remains steadfast in its commitment to optimizing production capabilities and enhancing shareholder value while also focusing on sustainability and reducing its carbon footprint. As the Company navigates the energy sector’s dynamic landscape, it aims to leverage growth opportunities and capitalize on its strategic initiatives for future success.

Related news for (USEG)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.