Empire Petroleum Corporation announced on March 19, 2026, that its previously announced rights offering expired fully subscribed on March 18, 2026, generating approximately $10 million in gross proceeds before expenses at $2.99 per whole share. Subscriptions exceeded 100% of available securities, with oversubscriptions allocated pro-rata.
Key takeaways
Rights offering subscription period expired at 5:00 p.m. Eastern Time on March 18, 2026.
Rights offering fully subscribed with more than 100% of securities subscribed.
Generated approximately $10.0 million in gross proceeds before expenses.
Subscription price of $2.99 per whole share.
Stockholders receive full basic subscription privilege; oversubscription shares allocated pro-rata after eliminating fractional shares.
Rights offering size increased from $6.0 million to $10.0 million via prospectus supplements filed February 2, 2026, and February 25, 2026.