Athens, Greece, February 2, 2022 – Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”) announced today the closing of an upsized underwritten public offering of 9,600,000 units at a price of $1.25 per unit. Each unit consisted of one common share (or prefunded warrant in lieu thereof) and one Class A warrant to purchase one common share, and immediately separated upon issuance. In addition, the Company granted the underwriter a 45-day option to purchase up to an additional 1,440,000 common shares and/or prefunded warrants and/or 1,440,000 Class A warrants, at the public offering price less underwriting discounts and commissions, which the underwriter has partially exercised to purchase 1,440,000 additional Class A Warrants.
Athens, Greece, January 31, 2022 – Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”) announced today the pricing of an upsized underwritten public offering of 9,600,000 units at a price of $1.25 per unit. Each unit consists of one common share (or prefunded warrant in lieu thereof) and one Class A warrant to purchase one common share, and will immediately separate upon issuance. The gross proceeds of the offering to the Company, before underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $12.0 million.
Athens, Greece, December 17, 2021 – Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”) today announced a correction to the previously announced quarterly cash dividend payable on its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock for the period from the original issuance date on December 3, 2021 through December 29, 2021. As corrected, the Company will pay a cash dividend of $0.1640625 per share of its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock, payable on December 30, 2021 to holders of record as of December 27, 2021.
Athens, Greece, December 3, 2021 – Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”), a ship-owning company providing petroleum product and crude oil seaborne transportation services, today announced that it has completed its spin-off from StealthGas Inc., effective December 3, 2021. The Company’s shares of common stock, par value $0.01 per share, and 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share, liquidation preference $25.00 per share, will commence trading on Monday, December 6, 2021, on the Nasdaq Capital Market under the ticker symbols “IMPP” and “IMPPP”, respectively.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale of any security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and become effective. A prospectus may be obtained from the Company.
ABOUT IMPERIAL PETROLEUM INC.
Imperial Petroleum Inc. is a ship-owning company providing petroleum product and crude oil seaborne transportation services. The Company owns three M.R. product tankers and one Aframax oil tanker with a total capacity of 255,804 deadweight tons (dwt). Imperial Petroleum Inc.’s shares of common stock and 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock are listed on the Nasdaq Capital Market and trade under the symbols “IMPP” and “IMPPP”, respectively.
Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, or impact or duration of the COVID-19 pandemic and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although IMPERIAL PETROLEUM INC. believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, IMPERIAL PETROLEUM INC. cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include risks discussed in our filings with the SEC and the following: the impact of the COVID-19 pandemic and efforts throughout the world to contain its spread, the strength of world economies and currencies, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydockings, shipyard performance, changes in IMPERIAL PETROLEUM INC’s operating expenses, including bunker prices, drydocking and insurance costs, ability to obtain financing and comply with covenants in our financing arrangements, or actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists.
IMPERIAL PETROLEUM INC.