Investor Presentaiton
Constantly Improving Capital Structure
U.S. ENERGY CORP.
Track Record of Successfully Simplifying Capital Structure
Recently entered into a new $100 million credit facility with $15 million borrowing base.
■ Successfully accessed public equity markets for strategic acquisitions in extremely difficult market.
■ Further simplified the balance sheet eliminating its 12.25% Series A Convertible Preferred Stock for $2 million in cash and 328,000 shares;
equivalent to the $3.5 million liquidation preference of the Preferred Stock.
$9.00
$8.00
9/30/20: Direct Offering
of Common Stock
Gross proceeds of
$1.65 million.
Offer price: $5.25/sh.
23% pricing discount.
17% of market cap.
12/31/20: Redemption of All
Series A Convertible
Preferred Stock
$3.5m liquidation
preference.
Redeemed in exchange
for $2 million in cash and
328,00 shares of USEG
common stock.
10/5/2021: Announcement of
Transformativee Acquisition:
•
Issuance of 19.5 million
shares of common stock
Pay $1.25 million of cash
Assume $3.3 million of
debt
$7.00
$6.00
$5.00
$4.00
USEG $/Share
$3.00
$2.00
$1.00
$0.00
March-20
January-20
February-20
8
Confidential.
April-20
May-20
June-20
July-20
August-20
September-20
October-20
11/12/20: Common Stock
Offering
Gross proceeds of
$3.45 million.
Offer price: $3.00/sh.
25% pricing discount.
30% of market cap.
2/17/21: Common Stock
Offering
Gross proceeds of $5.77
million.
Offer price: $5.10/sh.
28% pricing discount.
28% of market cap.
1/5/22: New Credit Facility:
$100 million credit facility.
Initial $15 million
borrowing base.
5/3/22: Announcement of Bolt-
on Acquisition:
$1.0 million cash purchase.
PDP PV10 $2.3 million.
Upside from near-term gas
sales
November-20
December-20
January-21
February-21
March-21
April-21
May-21
June-21
July-21
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September-21
October-21
November-21
December-21
March-22
January-22
February-22
April-22
May-22View entire presentation