Empire Petroleum Corporation announced the full subscription of its rights offering, indicating robust investor interest.
The subscription period expired on August 20, 2025, with subscriptions exceeding 100% of the available securities.
Stockholders will receive their basic subscription privilege, and remaining shares and warrants will be allocated pro-rata among oversubscribing stockholders.
Subscription Success
The Rights Offering was fully subscribed, generating $2.5 million in gross proceeds before expenses.
Oversubscription
Stockholders will receive their basic subscription privilege, and oversubscribing stockholders will receive shares and warrants allocated pro-rata.
Executive Participation
The Chairman of the Board fully subscribed to securities and exercised over-subscription rights, underscoring confidence in the offering.
- The Rights Offering generated significant proceeds amounting to $2.5 million before expenses, with the potential for an additional $2.5 million from warrants in the future.
- Empire Petroleum's strategy of organic growth and targeted acquisitions align with its focus on proved developed assets with synergies, enhancing its portfolio of wells.
The successful full subscription of the Rights Offering highlights investor confidence in Empire Petroleum Corporation's strategic direction and asset portfolio synergy.