Empire Petroleum secures $6.75 million convertible loan from Energy Evolution Master Fund
EP•Empire Petroleum received full funding for a $6.75 million promissory note from Energy Evolution Master Fund. The note carries 6% annual interest, matures May 9, 2028, and may be converted at $2.16 per share starting January 9, 2027.
1. Loan terms
Empire Petroleum issued the $6.75 million note to Energy Evolution Master Fund on November 9, 2026, for general working capital. The fund may convert principal at $2.16 per share from January 9, 2027, through May 9, 2028; converting all principal would result in 3,125,000 shares, with accrued interest payable in cash.
