05:12 PM EDT, 07/10/2025 (MT Newswires) -- Empire Petroleum ( EP ) launched a subscription rights offering to raise up to $5 million in gross proceeds, including $2.5 million from the exercise of warrants issued as part of the offering.

The company is offering one subscription right for each common share held. Each right entitles holders to purchase one unit at $5.30, with each unit consisting of 0.0139 common shares and a warrant exercisable for 0.0136 common shares at $5.46.

The offering is expected to close on July 25, Empire said Thursday in a statement.

Empire shares fell 3.1% in after-hours trading.