09:28 AM EST, 01/22/2025 (MT Newswires) -- US Energy ( USEG ) said Wednesday it has priced an underwritten public offering of about 4.2 million common shares at $2.65 per share for net proceeds of about $10.5 million.

Underwriters have been granted an overallotment of 635,400 shares.

Net proceeds from the offering, which is set to close Thursday, will be used for the company's industrial gas development project.

Shares of the company fell 6% in recent premarket trading activity.

Price: 3.56, Change: -0.23, Percent Change: -6.04