Mulacek Amends Empire Petroleum Stake Filing
Ticker: EP · Form: SC 13D/A · Filed: Nov 27, 2024 · CIK: 887396
Sentiment: neutral
Topics: ownership-change, sec-filing, schedule-13d
Related Tickers: EMPIRE PETROLEUM CORP
TL;DR
Mulacek updated his Empire Petroleum stake filing - watch for changes.
AI Summary
On November 25, 2024, Phil Mulacek filed an amendment (No. 2) to his Schedule 13D regarding Empire Petroleum Corporation. This filing indicates a change in beneficial ownership, though specific new holdings or dollar amounts are not detailed in the provided text. The filing is an update to a previous statement concerning his stake in the company.
Why It Matters
Changes in beneficial ownership filings like this can signal shifts in major shareholder intentions, potentially impacting the stock price and corporate strategy of Empire Petroleum Corporation.
Risk Assessment
Risk Level: medium — Schedule 13D filings often precede significant corporate actions or shifts in control, which can introduce volatility.
Key Players & Entities
- Mulacek Phil E (person) — Filing person
- Empire Petroleum Corporation (company) — Subject company
- Philippe E. Mulacek (person) — Person authorized to receive notices
FAQ
What is the specific nature of the change in beneficial ownership reported in this amendment?
The provided text states this is an Amendment No. 2 to Schedule 13D, indicating a change in beneficial ownership, but does not specify the exact nature or extent of the change.
Who is the filing person for this Schedule 13D/A?
The filing person is Mulacek Phil E, also identified as Philippe E. Mulacek.
What is the CUSIP number for Empire Petroleum Corporation's common stock?
The CUSIP number for Empire Petroleum Corporation's common stock is 292034 30 3.
When was the event that required this filing to be made?
The date of the event which requires filing of this statement is November 25, 2024.
What is the business address of Empire Petroleum Corporation?
The business address of Empire Petroleum Corporation is 2200 S. Utica Place, Suite 150, Tulsa, OK 74114.
Filing Stats: 4,715 words · 19 min read · ~16 pages · Grade level 9.1 · Accepted 2024-11-27 16:05:52
Key Financial Figures
- $0.001 — ame of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securitie
- $0.80 — of Common Stock at an exercise price of $0.80 per share (the “PIE-1 Warrant&rdq
- $1.00 — of Common Stock at an exercise price of $1.00 per share (the “PIE-2 Warrant&rdq
- $0.40 — of Common Stock at an exercise price of $0.40 per share (the “PIE-3 Warrant&rdq
- $0.564 — of Common Stock at an exercise price of $0.564 per share (the “PIE-4 Warrant&rdq
- $525,000 — o;), for an aggregate purchase price of $525,000. The purchase price was funded using Mr
- $20,000 — Stock at an aggregate exercise price of $20,000, (ii) Mr. Mulacek with respect to 175,0
- $140,000 — Stock at an aggregate exercise price of $140,000, (iii) Big Red Revocable Trust with res
- $27,000 — Stock at an aggregate exercise price of $27,000, and (iv) Five Sterling LP with respect
- $26,000 — Stock at an aggregate exercise price of $26,000; (b) the PIE-2 Warrant was exercised by
- $25,000 — Stock at an aggregate exercise price of $25,000, (ii) Mr. Mulacek with respect to 62,50
- $62,500 — Stock at an aggregate exercise price of $62,500, (iii) Big Red Revocable Trust with res
- $37,500 — Stock at an aggregate exercise price of $37,500, and (iv) Five Sterling LP with respect
- $50,000 — Stock at an aggregate exercise price of $50,000; and (c) the PIE-3 Warrant was exercise
- $60,000 — Stock at an aggregate exercise price of $60,000, (ii) Mr. Mulacek with respect to 569,1
Filing Documents
- mulacek13d-18912.htm (SC 13D/A) — 108KB
- 0001072613-24-000903.txt ( ) — 110KB
PURPOSE OF TRANSACTION
ITEM 4. PURPOSE OF TRANSACTION Mr. Mulacek acquired and owns or owned the shares of Common Stock, convertible notes, warrants to purchase Common Stock, stock options and restricted stock units, as described herein, for investment purposes. Mr. Mulacek is a director of the Company and serves as Chairman of the Board. Mr. Mulacek expects that he will continue to receive equity awards as compensation for serving on the Board. Mr. Mulacek may, from time to time, depending on prevailing market, economic and other conditions, acquire additional shares of Common Stock or other securities of the Company, dispose of any such securities, or engage in discussions with the Company concerning such acquisitions or dispositions or further investments in the Company. Mr. Mulacek intends to review his investment in the Company from time to time and, depending upon his assessment of pertinent factors, including without limitation, the price and availability of shares of Common Stock or other securities of the Company, subsequent developments affecting the Company, the Company’s business and prospects, other investment and business opportunities available to him, general stock market and economic and industry conditions and tax and estate planning considerations, may decide at any time to increase or to decrease the size of his investment in the Company in the open market, in privately negotiated transactions, pursuant to Rule 10b5-1 trading plans or otherwise. On March 8, 2022, the Company formalized the issuance of preferred stock as was required under the terms of the Company’s May 2021 financing agreements with EEF and issued six shares of Series A Voting Preferred Stock to Mr. Mulacek, one of the principals of EEF, as EEF’s designee. The Series A Voting Preferred Stock was issued in connection with the strategic investment in the Company by EEF. The Series A Voting Preferred Stock is not convertible into the Common Stock or any other security of the Company.