Empire Petroleum sets record date for $5M rights offering; units at $5.30 per unit

EMPIRE PETROLEUM CORP

Record date July 10, 2025 for rights offering to raise gross proceeds up to $5.0M, including $2.5M from warrant exercise.
Each subscription right allows purchase of one unit consisting of 0.0139 shares and one warrant to buy 0.0136 shares at $5.30 per unit.
Rights are non-transferable and expire at 5:00 p.m. ET on July 25, 2025.
If fully subscribed, 471,698 shares of common stock and up to 457,875 shares from warrants would be issued.
Holders who fully exercise rights can over-subscribe for additional units, subject to proration.

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