Athens, Greece, September 14, 2022 – Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”) today announced that the Annual Meeting of Shareholders of the Company convened on September 14, 2022 has been adjourned, due to lack of requisite quorum, to Thursday, October 13, 2022 at 11:00 a.m. Greek local time at the Company’s offices at 331 Kifissias Avenue, Erithrea 14561 in Athens, Greece. The record date for the adjourned annual meeting continues to be July 22, 2022. 

The Company adjourned the Meeting for the purpose of allowing additional time for shareholders to vote on the proposals as set forth in the Company’s proxy statement for the Meeting, dated August 3, 2022 (the “Proxy Statement”), which remains unchanged, and to seek to obtain a quorum.

The business scheduled for the re-convened Meeting remains the same as set forth in the Proxy Statement, which is: Proposal 1, the election of one director to hold office until the annual meeting of stockholders in 2025 and such director’s successor has been duly elected and qualified; Proposal 2, ratification of the appointment of our independent auditors; and to transact such other business as may properly come before the  adjourned 2022 Annual Meeting and any further adjournments or postponements thereof.

All stockholders of record as of July 22, 2022, who have not already done so are encouraged to vote on the proposals.Stockholders who have previously submitted a proxy or otherwise voted do not need to take any action and all previously submitted proxies will be voted at the adjourned annual meeting unless properly revoked.

ATHENS, GREECE, July 27, 2022 - IMPERIAL PETROLEUM INC. (NASDAQ: IMPP, the “Company”), a ship-owning company providing petroleum products, crude oil and dry bulk seaborne transportation services, announced today its unaudited financial and operating results for the second quarter ended June 30, 2022. In November 2021, StealthGas Inc. contributed to the Company four subsidiaries comprising a fleet of four tanker vessels. The Company was spun-off from StealthGas Inc. in December 2021. Historical comparative period reflects the results of the carve-out operations of the four subsidiaries that were contributed to the Company.

OPERATIONAL AND FINANCIAL HIGHLIGHTS

 

  • Strategic decision to strengthen our fleet further.
  • In July 2022, we entered into an agreement with an affiliated party to acquire two handysize dry bulk carriers, the Eco Bushfire (2011 built) and the Eco Angelbay (2009 built), for a total consideration of $39 million. Both vessels are Japanese built with an aggregate capacity of 64,000 dwt.
  • Fleet operational utilization of 82.5% in Q2 22’ – mainly due to the repositioning of our two suezmax tankers for a total of 56 days.
  • Revenues of $11.3 million in Q2 22’ up by $6.2 million or 121.6% compared to Q1 22’ due to further improvement in market rates and a higher number of vessels.
  • Net income of $0.1 million – undermined by the $2.4 million voyage and operating costs we incurred for the repositioning of our two suezmaxes- benefit of which will appear in Q3 22’.
  • EBITDA[1] of $3.0 million in Q2 22’- 15.4% higher than in Q1 22’ and 114.3% or $1.6 million higher than in Q2 21’.
  • Cash and cash equivalents of $79.1 million as of June 30, 2022.

 

Athens, Greece, June 21, 2022 – Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”) announced today that it has received written notification from The Nasdaq Stock Market (“Nasdaq”) dated June 17, 2022, indicating that because the closing bid price of the Company’s common stock for 30 consecutive business days, from May 5, 2022 to June 16, 2022, was below the minimum $1.00 per share bid price requirement for continued listing on The Nasdaq Capital Market, the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2). Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the applicable grace period to regain compliance is 180 days, or until December 14, 2022.

ATHENS, GREECE July 25, 2022. Imperial Petroleum Inc. is a ship-owning company providing petroleum product and crude oil seaborne transportation services announced today that it will release its second quarter and six months’ financial results for the period ended June 30, 2022 before the market opens in New York on July 27, 2022.

On July 27, 2022 at 11:00 am ET, the company’s management will host a conference call to discuss the results and the company’s operations and outlook.

Conference Call details:

ATHENS, GREECE, June 14, 2022 - IMPERIAL PETROLEUM INC. (NASDAQ: IMPP), the “Company”), a ship-owning company providing petroleum product and crude oil seaborne transportation services, announced today its unaudited financial and operating results for the first quarter ended March 31, 2022.