Imperial Petroleum sets price for 9.5 million shares at $6.30 in direct registered offering
Securities Purchase Agreement: Imperial Petroleum has entered into a securities purchase agreement with two institutional investors for the sale of approximately 9.5 million shares of common stock along with Class F and Class G warrants at a price of $6.30 per share.
Financial Details: The gross proceeds from this offering are expected to be around $60 million, which will be used for working capital and general corporate purposes.
Warrant Information: The Class F and Class G warrants will have an exercise price of $6.30, will be immediately exercisable, and will expire five years after issuance.
Closing Timeline: The offering is anticipated to close on or about December 1, 2025, pending the fulfillment of customary closing conditions, with Maxim Group serving as the sole placement agent.
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Imperial Petroleum Estimates NAV at $508.03 Million, CEO Holds 30.1% Stake
- NAV Assessment: As of September 30, 2025, Imperial Petroleum estimates its Net Asset Value (NAV) at $508.03 million, translating to $11.38 per common share, indicating robust performance in the petroleum transportation market.
- Shareholder Confidence: CEO Harry Vafias owns 13.45 million shares, representing 30.1% of the total common stock, and has not sold any shares since the company's inception, reflecting strong confidence in the company's future prospects.
- Fleet Expansion: The company currently owns 19 vessels and plans to acquire an additional five handysize drybulk carriers and one product tanker, which will increase its total capacity to approximately 1.5 million deadweight tons, enhancing its competitive position in the market.
- Market Risk Advisory: The company notes that the NAV estimate is based on various assumptions and may change due to market fluctuations, geopolitical factors, and other uncertainties, urging investors to remain aware of potential risks.
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