On March 19, 2026, Empire Petroleum Corporation (NYSE American: EP) announced that its previously announced rights offering was fully subscribed. The rights offering, which had a subscription price of $2.99 per share, generated approximately $10 million in gross proceeds before expenses. The subscription period for the offering expired at 5:00 p.m. Eastern Time on March 18, 2026. The company received subscriptions for more than 100% of the securities available, leading to a pro-rata allocation of remaining shares among oversubscribing stockholders. This successful capital raise is expected to enhance the company's liquidity and support its operational strategies moving forward. Empire Petroleum, based in Tulsa, Oklahoma, focuses on oil and gas production across several states, including New Mexico, North Dakota, Montana, Texas, and Louisiana. The rights offering was initially set for $6 million but was increased to $10 million due to strong demand. This development reflects positively on the company's financial health and market confidence, potentially leading to a favorable impact on its stock price.

Press Release distribution

National Press Distribution across U.S. Media. Direct Access to Key Decision Making Editors.