Empire Petroleum shares fall 1.24% after-hours following a fully subscribed rights offering.

Empire Petroleum Corporation fell 1.24% in after-hours trading, following the announcement that its rights offering was fully subscribed. The company received subscriptions for more than 100% of the securities available, indicating strong investor interest. However, the stock price decline may be due to the fact that not all oversubscriptions could be satisfied, potentially leading to investor disappointment.