Imperial Petroleum Inc. Common Shares - IMPP STOCK NEWS

Imperial Petroleum Inc. (NASDAQ: IMPP) reported its unaudited financial results for Q1 2022, noting revenue of $5.1 million, unchanged from Q1 2021, but up 28% from Q4 2021. The company achieved a net income of $0.2 million, a turnaround from a net loss of $0.4 million a year earlier. Key operational highlights include raising $135 million through equity offerings and acquiring four tankers, doubling fleet size to 8 vessels and boosting capacity to 682,000 dwt. The company’s cash balance stands at about $55 million, expected to rise to $76 million with recent warrant exercises.

Imperial Petroleum Inc. (Nasdaq: IMPP) announced agreements with accredited investors to exercise 31,150,000 Class B Warrants, reducing the exercise price from $1.60 to $0.70 per share. The expected net proceeds of approximately $20.9 million will support the company's operations. The investors will receive new Class D Warrants, also exercisable at $0.80 per share. This transaction, facilitated by Maxim Group LLC, highlights the company’s efforts to enhance liquidity while navigating market uncertainties.

Imperial Petroleum Inc. announced it will release its first quarter financial results for the period ending March 31, 2022, on June 14, 2022, before market open. A conference call to discuss the results and outlook will take place at 11:00 am ET on the same day. Participants can join using provided toll-free and local numbers. Imperial Petroleum owns eight tanker vessels, totaling approximately 682,000 deadweight tons, and trades under the stock symbol IMPP on NASDAQ.

Imperial Petroleum Inc. has announced an agreement to acquire two suezmax tankers from an unaffiliated third party for $46.8 million, with delivery expected by mid-June 2022. The vessels, built in 2007 and 2008, have a total capacity of approximately 320,000 dwt. The purchase will be financed through cash-on-hand and new secured bank debt, reflecting the company's strong financial resources following recent public offerings. This acquisition aligns with Imperial Petroleum's strategy for fleet expansion, increasing its total capacity to approximately 682,000 dwt.

Imperial Petroleum Inc. (Nasdaq: IMPP) has successfully closed a public offering of 72,727,272 units at $0.55 each, raising approximately $40 million in gross proceeds. Each unit includes one share of common stock and one Class C warrant. The underwriter, Maxim Group LLC, has a 45-day option to purchase an additional 10,909,090 shares and warrants. Proceeds will be allocated towards capital expenditures, including vessel acquisitions beyond current operational sectors. Each Class C warrant is exercisable at $0.55 for five years.

Imperial Petroleum Inc. (Nasdaq: IMPP) has announced a public offering of 72,727,272 units at $0.55 each, aiming for gross proceeds of approximately $40 million. Each unit comprises one share of common stock and a Class C warrant, which is immediately separable and exercisable at the same price. Proceeds will fund capital expenditures, including acquisitions of unidentified vessels, and general corporate purposes. The offering is expected to close on or about May 19, 2022, with Maxim Group LLC as the sole book-running manager.

Imperial Petroleum Inc. (NASDAQ: IMPP) reported unaudited financial results for Q4 and 12M 2021. The company raised $91 million from public offerings in February and March 2022. In Q4 2021, revenues decreased by 28.6% to $4.0 million, with a net loss of $1.5 million. For the full year, revenues fell 14.3% to $17.4 million, resulting in a net loss of $3.6 million. Operational utilization was 92.9% due to weak market conditions. The company declared a dividend of $0.546875 per preferred share, payable March 30, 2022.

Imperial Petroleum Inc. will announce its fourth quarter and twelve months’ operating and financial results for the period ending December 31, 2021, on March 29, 2022, before the New York market opens. A conference call to discuss the results and company outlook is scheduled for the same day at 11:00 am ET. Participants can join by dialing in 10 minutes prior using specified toll-free numbers and the access code 8576259. The conference call will also be available via live and archived webcast on the company’s website.

Imperial Petroleum Inc. (Nasdaq: IMPP) announced the successful closing of an upsized public offering of 37,500,000 units at $1.60 per unit, raising approximately $60 million before expenses. Each unit comprises one common share and one Class B warrant. Additionally, the underwriter exercised a partial option to purchase 5,624,950 additional Class B warrants. The proceeds will be utilized for capital expenditures, including new vessel acquisitions. The offering was facilitated by Maxim Group LLC and filed under the SEC's registration statement.