Energy Evolution Fund exercises EP rights at $2.99
Energy Evolution Master Fund, Ltd., a 10% owner of Empire Petroleum Corp, exercised subscription rights in the company’s rights offering.
Rhea-AI Filing Summary
Energy Evolution Master Fund, Ltd., a 10% owner of Empire Petroleum Corp, exercised subscription rights in the company’s rights offering. The fund exercised rights to acquire 1,855,757 shares of common stock at $2.99 per share, including shares from over-subscription rights.
These shares came from subscription rights that allowed holders of record as of February 2, 2026 to purchase common stock, with each right carrying a basic subscription right and an over-subscription right. After the transaction, the fund directly held 13,151,285 shares of Empire Petroleum common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
11,295,528 shares exercised/converted
Exercise
2 txns
Insider
Energy Evolution Master Fund, Ltd.
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| In-the-Money Exercise | Subscription Rights (right to buy) | 11,295,528 | $0.00 | $0.00 |
| In-the-Money Exercise | Common Stock | 1,855,757 | $2.99 | $5.55M |
Holdings After Transaction:
Subscription Rights (right to buy) — 0 contracts (Direct);
Common Stock — 13,151,285 shares (Direct)
Footnotes (3)
- F1. Represents shares of the Issuer's common stock purchased by the reporting person following the exercise of subscription rights, including over-subscription rights, pursuant to the Issuer's rights offering to holders of common stock, as described in the Issuer's prospectus supplement dated February 2, 2026, as supplemented by the Issuer's prospectus supplement dated February 25, 2026 (the "Rights Offering").
- F2. Represents the exercise price of $2.99 per whole share of common stock in the Rights Offering.
- F3. Each holder of common stock of record as of February 2, 2026 received one right for each share of common stock, and each right carried with it a basic subscription right, which entitled the holder to purchase 0.095 of a share of common stock, and an over-subscription right, which entitled holders that exercised their basic subscription rights in full to subscribe for additional shares of common stock that were not purchased by other stockholders pursuant to their basic subscription rights, subject to proration. Includes shares purchased pursuant to the exercise of over-subscription rights in connection with the Rights Offering.
Key Figures
Shares acquired: 1,855,757 shares
Exercise price: $2.99 per share
Post-transaction holdings: 13,151,285 shares
+2 more
5 metrics
Shares acquired
1,855,757 shares
Common stock acquired via rights exercise
Exercise price
$2.99 per share
Exercise price in the rights offering
Post-transaction holdings
13,151,285 shares
Common stock held directly after transaction
Subscription rights exercised
11,295,528 rights
Derivative subscription rights exercised
Right-to-share ratio
0.095 share per right
Basic subscription right per common share held
Key Terms
Rights Offering, subscription rights, over-subscription right, basic subscription right
4 terms
Rights Offering financial
"pursuant to the Issuer's rights offering to holders of common stock"
A rights offering is a way for a company to raise additional money by giving existing shareholders the opportunity to buy more shares at a discounted price before they are offered to the public. It’s similar to a special sale where current owners get the first chance to buy extra items at a lower cost, allowing them to increase their investment if they choose. This process matters to investors because it can affect the value of their holdings and their ability to buy new shares at favorable terms.
subscription rights financial
"purchased by the reporting person following the exercise of subscription rights"
Subscription rights are short-term privileges given to existing shareholders to buy additional new shares before the general public, typically at a set price and in proportion to their current holdings. Think of it as getting a coupon for first dibs on extra slices of a pizza so your share of the pie doesn’t shrink; exercising them can be a cheaper way to maintain your ownership and voting power, while ignoring them can reduce your stake and potential future earnings.
over-subscription right financial
"each right carried with it a basic subscription right, which entitled the holder to purchase 0.095 of a share of common stock, and an over-subscription right"
An over-subscription right is a privilege given to existing investors that allows them to buy additional shares during a company's new stock offering if there's high demand, beyond their initial allocation. It helps investors increase their ownership stake when more people want to buy shares than are available, similar to being given the option to buy extra tickets to a sold-out concert. This right can benefit investors by allowing them to strengthen their investment before the new shares are offered to the public.
basic subscription right financial
"each right carried with it a basic subscription right, which entitled the holder to purchase 0.095 of a share"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Energy Evolution Master Fund do in this Form 4 for EP?
Energy Evolution Master Fund, Ltd. exercised subscription rights in Empire Petroleum’s rights offering. It acquired 1,855,757 shares of common stock at $2.99 per share, increasing its direct ownership to 13,151,285 shares following the transaction.
What is Empire Petroleum’s rights offering mentioned in the Form 4?
Empire Petroleum conducted a rights offering to holders of common stock of record as of February 2, 2026. Each right allowed the holder to purchase 0.095 of a share and also carried an over-subscription right for additional shares not taken by other stockholders.
What are over-subscription rights in the Empire Petroleum rights offering?
In the rights offering, each right included an over-subscription right. Stockholders who fully exercised their basic subscription rights could subscribe for additional common shares that were not purchased by other stockholders, with allocations subject to proration among participating holders.
AI-generated analysis. How Rhea-AI works. Not financial advice.
