Business
Empire Petroleum Announces Extension of Previously Announced Rights Offering
TULSA, Okla., August 19, 2025--Empire Petroleum Corporation (NYSE American: EP) ("Empire" or the "Company"), an oil and gas company with current producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana, announced today that it has extended the expiration date of its previously announced subscription rights offering ("Rights Offering") pursuant to which it intends to raise gross proceeds of up to approximately $5.0 million, including $2.5 million from the exercise of the warran
About this update from Empire Petroleum Corporation
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":223,"url":"https://media.zenfs.com/en/business-wire.com/4a9a2220277fda4872a6e3191a54d653"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/mRvF1GmUUhf.xanM9JaoAQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQ0NjtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/4a9a2220277fda4872a6e3191a54d653","width":480,"height":223}},"lazy":false},{"type":"text","content":"TULSA, Okla., August 19, 2025--(BUSINESS WIRE)--Empire Petroleum Corporation (NYSE American: EP) ("Empire" or the "Company"), an oil and gas company with current producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana, announced today that it has extended the expiration date of its previously announced subscription rights offering ("Rights Offering") pursuant to which it intends to raise gross proceeds of up to approximately $5.0 million, including $2.5 million from the exercise of the warrants issued as part of the Rights Offering.","length":588,"tagName":"p"},{"type":"text","content":"The Company is distributing at no charge to holders of its common stock, par value $0.001 per share ("Common Stock"), as of the close of business on July 10, 2025 (the record date for the Rights Offering), one subscription right for each share of Common Stock held. Each subscription right entitles the holder to purchase one unit at a subscription price of $0.07367 per unit, each unit consisting of 0.0139 shares of Common Stock and one warrant exercisable for 0.0136 shares of Common Stock at $5.46 per whole share. As a result, a stockholder must hold at least 72 shares of Common Stock to receive subscription rights to purchase at least one whole share at $5.30 per share, as well as at least 74 shares of Common Stock to receive warrants to purchase one whole share at $5.46 per share. The subscription rights and warrants are non-transferable, and will not be listed for trading on any stock exchange or market. In addition, holders of subscription rights who fully exercise their subscription rights are entitled to over-subscribe for additional units, subject to proration.","length":1093,"tagName":"p"},{"type":"text","content":"For example, if you owned 100 shares of our Common Stock on the record...