secwatch.observer — SEC 8-K summary
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Issuer:     EMPIRE PETROLEUM CORP (EP)
CIK:        0000887396
Form:       8-K
Filed at:   2024-02-21T23:59:59+00:00
Accession:  0001072613-24-000261
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Empire Petroleum issues $5M promissory note to Energy Evolution Master Fund at 7% interest
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- Note principal $5M; $2.5M funded immediately; up to additional $2.5M available over three months.
- Interest 7% p.a. (9% post-maturity); conversion price $6.25/share, yielding up to 800k shares.
- Matures Feb 15, 2026; proceeds for drilling program and working capital.
- Interest payments at Energy Evolution's option in cash or common stock.
- Note issued as unregistered security under Section 4(a)(2) exemption.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/887396/000107261324000261/0001072613-24-000261-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/887396/000107261324000261/emp_8k-18799.htm
  HTML page:      https://secwatch.observer/filing/0001072613-24-000261

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