secwatch.observer — SEC 8-K summary
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Issuer:     US ENERGY CORP (USEG)
CIK:        0000101594
Form:       8-K
Filed at:   2022-01-10T23:59:59+00:00
Accession:  0001493152-22-000753
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 2.03, 3.02, 3.03, 5.03, 5.01, 5.02, 5.07, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

USEG closes acquisition of oil & gas assets for $1.25M cash, 19.9M shares, $3.5M debt
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- Acquired assets from Lubbock, Banner, and Synergy for $1.25M cash, 19,905,736 shares, $3.5M debt assumption, and hedge novation (~$3.1M MTM loss).
- Board expanded from 5 to 7; appointed Weinzierl (Chairman), Batchelor, and King, designated by the sellers.
- Entered new 5-year $15M revolving credit facility with Firstbank; $3.5M drawn at closing to repay assumed Banner debt.
- Signed related agreements: Registration Rights, Nominating/Voting, Contribution, Farmout, and Transition Services.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/101594/000149315222000753/0001493152-22-000753-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/101594/000149315222000753/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-000753

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