Imperial Petroleum Inc. announced today that it has entered into an agreement to sell for $43 million the M/T Stealth Berana an Aframax oil tanker, built at Samsung shipyard, South Korea in 2010, with a cargo carrying capacity of approximately 115,800 dwt, to C3is Inc. Payment of 10% of the purchase price has been received, with the remaining balance due within one year following the vessel's delivery which took place on [...]
Imperial Petroleum Inc. , a ship-owning company providing petroleum products, crude oil and dry bulk seaborne transportation services, today announced that it has completed the spin-off of its previously wholly-owned subsidiary, C3is Inc., the holding company for two drybulk carriers, effective June 21, 2023. Imperial Petroleum stockholders and warrantholders received one C3is common share for every eight shares of [...]
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 June 30, 2023 to holders of record as of June 27, 2023. The dividend payment relates to the period from the last dividend payment date for the [...]
Imperial Petroleum Inc. , a ship-owning company providing petroleum products, crude oil and dry bulk seaborne transportation services, today announced that the record date for the spin-off distribution of shares of common stock of C3is Inc., the newly formed subsidiary that will act as the holding company for two of its drybulk carriers, is June 13, 2023. Stockholders and warrantholders of the Company will receive one [...]
Imperial Petroleum Inc. today announced that it has received a letter from The Nasdaq Stock Market LLC informing the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550 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 [...]
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 first quarter ended March 31, 2023. OPERATIONAL AND FINANCIAL HIGHLIGHTS Fleet operational utilization of 85% in Q1 23' with 6 days of technical off hire and 495 of our fleet days dedicated to spot activity. Delivery of [...]
Imperial Petroleum Inc. is a ship-owning company providing petroleum products, 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 [...]
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 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 [...]
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. today announced that its board of directors has determined to effect a one-for-fifteen reverse stock split of the Company's common stock, par value $0.01 per share. The reverse stock split [...]
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 [...]
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