Prospect Global plans to conduct $25 million public sale of its shares

Public issue of equity slated to be completed in March, company says

By Devika Patel

Knoxville, Tenn., Feb. 20 - Prospect Global Resources Inc. will price a $25 million public offering of common stock, according to an 8-K filed Friday with the Securities and Exchange Commission.

Settlement is expected in March.

The company has until March 31 to regain compliance with Nasdaq's market value of listed securities rule. It received notification in April 2013 that it was no longer in compliance with the rule because the market value of its listed securities had fallen below $35 million for at least 30 consecutive business days.

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

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