Prospect Global to offer 15 million common shares through public sale

Funds used to acquire 50% interest in American West Potash, for study

By Devika Patel

Knoxville, Tenn., June 19 - Prospect Global Resources Inc. will price a public offering of 15 million common shares, according to a prospectus supplement filed Tuesday with the Securities and Exchange Commission and a company news release. The deal has a 30-day greenshoe of an additional 2.25 million shares.

Dahlman Rose & Co., LLC, ROTH Capital Partners, LLC and Sterne, Agee & Leach, Inc. are the joint bookrunners and Wunderlich Securities, Inc. and Gilford Securities Inc. are the co-managers.

Proceeds will be used for the initial payment due to the Karlsson Group in connection with the company's acquisition of the Karlsson Group's 50% interest in American West Potash LLC, to prepare a bankable feasibility study and for mine planning, permitting, an environmental study, engineering and general corporate purposes.

Based in Denver, Prospect Global is a resource exploration company.

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