Houston American Energy Corp. (HUSA) has entered into a definitive agreement with an institutional investor for a registered direct offering of 81,629 common shares at $14.80 per share.
The transaction is expected to generate approximately $1.2 million in gross proceeds before fees and expenses, with net proceeds of around $1 million allocated for general corporate purposes. The offering is expected to close on or about June 25, 2025, subject to standard closing conditions.
In connection with the offering, the company entered a Placement Agency Agreement with Univest Securities, LLC on June 24, 2025. Univest will serve as the sole placement agent and will receive an 8% commission on gross proceeds, along with reimbursement of reasonable out-of-pocket expenses and legal fees capped at $10,000.
HUSA currently trades at $12.75, or 31.22% lower, on the NYSE American.
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