Imperial Petroleum Announces $10 Million Share Repurchase Program

Rhea-AI Summary

Imperial Petroleum (Nasdaq: IMPP) announced that its Board approved a share repurchase program authorizing officers to buy up to $10,000,000 of common stock.

Shares may be repurchased in the open market or via privately negotiated transactions, at times and prices the company deems appropriate. The program may be suspended or discontinued at any time.

Positive

• Authorized repurchase of $10,000,000 of common stock
• Permits open-market and privately negotiated share purchases for execution flexibility

Negative

• No firm timeline or minimum repurchase commitment disclosed
• Buybacks may be suspended or discontinued at the company’s discretion

News Market Reaction – IMPPP

-1.73%

1 alert

-1.73% News Effect

On the day this news was published, IMPPP declined 1.73%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

ATHENS, Greece, Feb. 09, 2026 (GLOBE NEWSWIRE) -- Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”) today announced that its Board of Directors has approved a share repurchase program and authorized the officers of the Company to repurchase, from time to time, up to $10,000,000 of the Company's common stock. Shares may be purchased in open market or privately negotiated transactions, at times and prices that are considered to be appropriate by the Company, and the program may be suspended or discontinued at any time.

About Imperial Petroleum Inc.

IMPERIAL PETROLEUM INC. is a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services. The Company owns a total of twenty vessels on the water - seven M.R. product tankers, two suezmax tankers, three handysize drybulk carriers, five supramax drybulk carriers, two kamsarmax drybulk vessels and a post panamax drybulk carrier - with a total capacity of approximately 1,291,000 deadweight tons (dwt) and has contracted to acquire an additional five handysize drybulk carriers and a product tanker of 223,700 dwt aggregate capacity. Following these deliveries, the Company’s fleet will count a total of 26 vessels with an aggregate capacity of about 1.5 million 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.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical or current facts, including statements related to the Company’ share repurchase program and capital strategy, are 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, 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. 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. Risks and uncertainties are further described in reports filed by IMPERIAL PETROLEUM INC. with the U.S. Securities and Exchange Commission.

Company Contact:

Fenia Sakellaris
IMPERIAL PETROLEUM INC.
info@ImperialPetro.com

FAQ

What did Imperial Petroleum (IMPP) authorize in the February 9, 2026 share repurchase program?

The company authorized officers to repurchase up to $10,000,000 of common stock. According to the company, purchases can occur in the open market or via privately negotiated transactions at times and prices deemed appropriate.

How will Imperial Petroleum (IMPP) execute the $10 million buyback?

Imperial Petroleum may repurchase shares in open-market or privately negotiated transactions. According to the company, officers are authorized to time purchases as they consider appropriate, providing flexibility in execution and pricing.

Does Imperial Petroleum (IMPP) guarantee a set timetable for the repurchases under the $10 million program?

No, there is no guaranteed timetable for repurchases under the program. According to the company, the program may be suspended or discontinued at any time, and buys will occur at management’s discretion.

What immediate effect should IMPP shareholders expect from the $10,000,000 repurchase authorization?

Immediate effect is limited because buys are discretionary and not guaranteed. According to the company, the authorization enables potential share reduction but actual timing, amount, and market impact depend on future repurchase activity.