ATHENS, GREECE – May 16, 2023 – IMPERIAL PETROLEUM INC. (the “Company”) (Nasdaq: IMPP) today announced that it has received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) informing the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market.
The letter noted that, as a result of the closing bid price of the Company's common stock having been at $1.00 per share or higher for at least ten consecutive trading days, from April 28, 2023 through May 11, 2023, the Company has regained compliance with Nasdaq’s Listing Rule 5550(a)(2).
ATHENS, GREECE, May 8, 2023 - 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 first quarter ended March 31, 2023.
OPERATIONAL AND FINANCIAL HIGHLIGHTS
Athens, Greece, April 26, 2023 – Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”), a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, announced today that the Company recently repaid early and in full its sole remaining loan with a $16.0 million outstanding balance from Alpha Bank. This loan was secured with first priority mortgages on product tankers Clean Nirvana and Clean Justice. Following the recent early repayment of all outstanding debt – approximately $69 million in total, the Company’s fleet of twelve vessels is now completely unencumbered. The repayment of all indebtedness will save approximately $10.3 million per annum in principal loan repayments and about $5 million per annum in finance costs basis current level of LIBOR rates. The combination of a high cash balance and unencumbered fleet, positions the Company well for future growth.
ATHENS, GREECE May 3, 2023. Imperial Petroleum Inc. is a ship-owning company providing petroleum product and crude oil and drybulk seaborne transportation services, announced today that it will release its first quarter financial results for the period ended March 31, 2023 before the market opens in New York on May 8, 2023.
On May 8, 2023 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.
To be effective April 28, 2023
Aiming to meet the minimum bid price requirement for maintaining listing on Nasdaq
Shareholders’ percentage ownership interest will not be affected
ATHENS, GREECE – April 26, 2023 – IMPERIAL PETROLEUM INC. (the “Company”) (Nasdaq: IMPP) today announced that its board of directors has determined to effect a one-for-fifteen (1-for-15) reverse stock split of the Company’s common stock, par value $0.01 per share.
The reverse stock split will take effect, and the Company’s common stock will begin trading on a split-adjusted basis on The Nasdaq Capital Market as of the opening of trading on April 28, 2023. The CUSIP number of Y3894J187 will be assigned to the Company’s common stock when the reverse stock split becomes effective.