Imperial Petroleum Inc. , a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, today announced that, through a wholly-owned subsidiary, it has filed a registration statement on Form F-1 pursuant to the Securities Act of 1933 to effect a spin-off of two of its drybulk carriers. C3is Inc., the newly formed subsidiary that will act as the holding company for the two [...]
Imperial Petroleum Inc. , 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 the $30.0 million outstanding loan with NBG Bank. This loan was secured with first priority mortgages against the Suezmax tankers, the Suez Enchanted and the Suez Protopia. Following this loan repayment, Imperial [...]
Imperial Petroleum Inc. , 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 the $23.2 million outstanding loan with DNB ASA Bank. This loan was secured with first priority mortgages against the product tankers Magic Wand, Clean Sanctuary and Clean Thrasher and against our Aframax tanker the Stealth [...]
Imperial Petroleum Inc. , a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, announced today that at March 27, 2023 the Company's management, estimates Imperial Petroleum Inc.'s Net Asset Value to be $338.6 million, which is approximately 717% above its current market capitalization. The NAV which includes total outstanding cash of $142.2 million is increasing [...]
Imperial Petroleum Inc. , a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services, today announced a dividend of approximately $0.546875 per share on its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock , payable on March 30, 2023 to holders of record as of March 27, 2023. The dividend payment relates to the period from the last dividend payment date for the [...]
Imperial Petroleum Inc. announced today that it has provided notice of termination of the ATM equity offering program that was in place with Maxim Group LLC and Virtu Americas LLC acting as sales agents. Prior to termination, the Company issued and sold 50,780,137 shares of its common stock under the ATM Offering raising total gross proceeds of approximately US$12.5 million. ABOUT IMPERIAL PETROLEUM INC. [...]
Imperial Petroleum Inc. announced today that it has entered into agreements to acquire two handysize drybulk carriers, built in Japan at Nakai Zosen in 2012 and at Shin Kurushima Onishi in 2013 respectively, with an aggregate capacity of approximately 71,000 dwt, from entities affiliated with our Chief Executive Officer, for aggregate cash consideration of $25.5 million and 13,875 shares of Series C Cumulative Convertible [...]
Imperial Petroleum Inc. , 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 fourth quarter ended December 31, 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 [...]
Imperial Petroleum Inc., a ship-owning company providing petroleum product and crude oil and drybulk seaborne transportation services, announced today that it will release its fourth quarter and twelve months' financial results for the period ended December 31, 2022 before the market opens in New York on February 15, 2023. On February 15, 2023 at 11:00 am ET, the company's management will host a conference call to discuss [...]
Imperial Petroleum Inc. , a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, today announced the election of one Class I director at the Company's annual meeting of stockholders held in Athens today. The elected Class I director is George Xiradakis. The Class I director was elected to hold office for a term ending at the annual meeting of stockholders in 2025 and [...]
Imperial Petroleum Inc. , a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, today announced a dividend of approximately $0.546875 per share on its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock , payable on December 30, 2022 to holders of record as of December 27, 2022. The dividend payment relates to the period from the last dividend payment date [...]
Imperial Petroleum Inc. , a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, today announced that the Company received formal notification from the Listing Qualification Department of the Nasdaq Stock Market notifying the Company that it has been granted an additional 180-day compliance period, or until June 12, 2023, to regain compliance with the minimum $1.00 bid [...]
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