Empire Petroleum to issue 205,427 shares to repay $1.06M loan from PIE, terminate loan and JDA

EMPIRE PETROLEUM CORP

Outstanding loan principal and interest of $1,060,004 as of July 1, 2024.
Company will issue 205,427 shares of common stock at $5.16 per share (June 28 closing price) to pay off the loan.
Loan termination and share issuance contingent on NYSE American approval of supplemental listing.
Loan agreement and Joint Development Agreement (JDA) with PIE will be terminated.
Shares issued under Section 4(a)(2) exemption; PIE is an accredited investor.

item 1.01 item 1.02 item 2.03 item 3.02 item 8.01 item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.