Empire Petroleum Rights Offering 'Fully Subscribed'-December 2024-www.financetom.com

Empire Petroleum Rights Offering 'Fully Subscribed'

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Empire Petroleum Rights Offering 'Fully Subscribed'

Apr 11, 2024 2:22 PM

04:50 PM EDT, 04/11/2024 (MT Newswires) -- Empire Petroleum ( EP ) said its rights offering was "fully subscribed" and will likely generate gross proceeds of about $20.7 million.

The company said late on Thursday that the subscription period expired on April 10.

Empire said it received subscriptions for more than 100% of the shares available.

The company plans to use the proceeds for its drilling activity, 3D seismic, and land and lease purchases.

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