Imperial Petroleum Inc. Announces Pricing of $60.0 Million Registered Direct Offering

Rhea-AI Summary

Imperial Petroleum (NASDAQ:IMPP) announced a registered direct offering to institutional investors of 9,523,900 common shares (or pre-funded warrants) with accompanying Class F and Class G warrants at a combined purchase price of $6.30 per share and warrants. The Class F and Class G warrants are immediately exercisable, carry a $6.30 exercise price and expire five years from issuance. Gross proceeds are expected to be approximately $60.0 million before commissions and offering expenses, with closing expected on or about December 1, 2025. Proceeds are intended for working capital and general corporate purposes. Maxim Group LLC is sole placement agent.

Fleet: 19 vessels on the water and three drybulk carriers contracted, taking fleet to 22 vessels (~1.4 million dwt) after deliveries.

Positive

• Gross proceeds of approximately $60.0 million
• Proceeds intended for working capital and general corporate purposes
• Placement led by institutional investors with Maxim Group LLC as placement agent
• Fleet growth to 22 vessels (~1.4 million dwt) after contracted deliveries

Negative

• Issuance of 9,523,900 shares plus warrants creates potential shareholder dilution
• Class F and G warrants are immediately exercisable, which may increase share count sooner
• Net proceeds will be reduced by commissions and offering expenses

News Market Reaction

-1.15%

1 alert

-1.15% News Effect

On the day this news was published, IMPPP declined 1.15%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Gross proceeds: $60.0 million Shares / pre-funded warrants: 9,523,900 units Class F warrants: 9,523,900 warrants +5 more

8 metrics

Gross proceeds $60.0 million Registered direct offering before commissions and expenses

Shares / pre-funded warrants 9,523,900 units Common stock or pre-funded warrants sold in the offering

Class F warrants 9,523,900 warrants Class F warrants to purchase common shares

Class G warrants 9,523,900 warrants Class G warrants to purchase common shares

Offering price $6.30 Combined purchase price per share and accompanying warrants

Warrant term 5 years Exercise period for Class F and Class G warrants

Current fleet 19 vessels, 1,195,000 dwt Existing fleet capacity before contracted deliveries

Future fleet 22 vessels, 1.4 million dwt Fleet size after three additional drybulk carrier deliveries

Market Reality Check

Price: $25.97 Vol: Volume 1,293,536 is 1.2x ...

normal vol

$25.97 Last Close

Volume Volume 1,293,536 is 1.2x the 20-day average of 1,081,702 shares. normal

Technical Price at $4.26 is trading above the 200-day MA of $3.58 while still 35.16% below the 52-week high.

Peers on Argus

Key peers show mixed moves (e.g., DLNG -0.26, KNOP +0.47) while momentum scanner...

1 Up

Key peers show mixed moves (e.g., DLNG -0.26, KNOP +0.47) while momentum scanner flags NFE up 4.62% without news, indicating stock-specific factors for IMPP.

Historical Context

5 past events · Latest: Dec 05 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 05	Results call date	Neutral	-0.8%	Announcement of Q3 and nine-month 2025 results release and webcast.
Nov 28	Equity offering	Negative	-21.8%	Registered direct common stock and warrant offering with institutional investors.
Sep 12	Preferred dividend	Positive	+9.6%	Declaration of cash dividend on 8.75% Series A preferred shares.
Sep 05	Earnings update	Positive	+2.0%	Q2 2025 results with larger fleet, positive net income and strong cash.
Aug 29	Results call date	Neutral	+3.0%	Scheduling of Q2 and H1 2025 results release and conference call.

Pattern Detected

Recent news reactions have largely aligned with the nature of events: positive responses to earnings/dividend updates and a sharp decline following an equity offering.

Recent Company History

Over the last six months, Imperial Petroleum released earnings showing fleet expansion and profitability, declared a preferred dividend, and scheduled multiple results webcasts. A prior registered offering led to a 21.83% one-day decline, highlighting market sensitivity to equity raises. Earnings on Sep 5, 2025 and the preferred dividend announcement on Sep 12, 2025 both saw positive price reactions, while neutral conference-call notices had modest moves, suggesting trading has generally aligned with event tone.

Market Pulse Summary

This announcement details a registered direct offering of 9,523,900 common shares or pre-funded warr...

Analysis

This announcement details a registered direct offering of 9,523,900 common shares or pre-funded warrants plus accompanying Class F and G warrants at $6.30, for expected gross proceeds of $60.0 million. The capital is earmarked for working capital and general corporate purposes. Historically, Imperial Petroleum’s shares have reacted sharply to equity offerings while responding positively to earnings and dividend updates, so future news flow and capital structure changes remain important to monitor.

Key Terms

registered direct offering, pre-funded warrants, class f warrants, class g warrants, +2 more

6 terms

registered direct offering financial

"announced that it has entered into a securities purchase agreement..."

A registered direct offering is a way for a company to sell new shares of its stock directly to select investors with regulatory approval. This method allows the company to raise funds quickly and efficiently without needing a public auction, similar to offering exclusive access to a limited number of buyers. For investors, it often provides an opportunity to purchase shares at a favorable price, while giving the company immediate access to capital.

pre-funded warrants financial

"common stock (or pre-funded warrants in lieu thereof) and accompanying..."

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

class f warrants financial

"accompanying Class F warrants to purchase up to 9,523,900 shares..."

Class F warrants are a specific series of warrants — contracts that give the holder the right, but not the obligation, to buy a company’s shares at a preset price before a set expiration date. Think of them like coupons that let you purchase stock later at a locked-in price; they matter to investors because they can magnify gains if the stock rises, create potential dilution of existing shares, and affect a company’s capital structure and valuation.

class g warrants financial

"and Class G warrants to purchase up to 9,523,900 shares of common stock..."

A Class G warrant is a specific series of a warrant — a tradable option-like certificate that gives its holder the right to buy a company's stock at a set price before a set date. Think of it as a ticket that can be redeemed for shares under predefined rules; the “Class G” label simply distinguishes this ticket’s price, expiration and other terms from other warrant series. Investors care because exercising or trading these warrants can amplify gains or dilute existing shares, affecting ownership stakes and potential returns.

cumulative redeemable perpetual preferred stock financial

"8.75% Series A Cumulative Redeemable Perpetual Preferred Stock are listed..."

A cumulative redeemable perpetual preferred stock is a type of ownership share that pays fixed dividends forever unless the company stops them, and any missed dividends accumulate and must be paid later. It can be redeemed (bought back) by the issuer at specified times or prices, so it behaves partly like a long-term loan; investors care because it sits ahead of common shares for payments and can affect a company’s cash needs and perceived credit risk.

forward-looking statements regulatory

"CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS The foregoing material may contain..."

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

AI-generated analysis. Not financial advice.

ATHENS, Greece, Nov. 28, 2025 (GLOBE NEWSWIRE) -- Imperial Petroleum Inc. (NASDAQ:IMPP) ("Imperial Petroleum" or the "Company"), a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, today announced that it has entered into a securities purchase agreement with two institutional investors for the sale of 9,523,900 shares of the Company’s common stock (or pre-funded warrants in lieu thereof) and accompanying Class F warrants to purchase up to 9,523,900 shares of common stock and Class G warrants to purchase up to 9,523,900 shares of common stock at a combined purchase price of $6.30 per share and accompanying warrants (the “Offering”). The Class F and Class G warrants will have an exercise price equal to $6.30, will be immediately exercisable, and will expire five years following the date of issuance. Gross proceeds for the Offering are expected to be approximately $60.0 million, before deducting commissions and offering expenses.

Maxim Group LLC is acting as the sole placement agent for the Offering.

Imperial Petroleum currently intends to use the net proceeds from the Offering for working capital and general corporate purposes. The Offering is expected to close on or about December 1, 2025, subject to the satisfaction of customary closing conditions.

The Offering is being made pursuant to an effective shelf registration statement on Form F-3 (File No. 333-268663) previously filed with the U.S. Securities and Exchange Commission (“SEC”) and subsequently declared effective by the SEC on December 15, 2022. A prospectus supplement relating to the securities to be issued in the Offering will be filed by the Company with the SEC. When available, copies of the prospectus supplement relating to the Offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at syndicate@maximgrp.com or by telephone at (212) 895-3745.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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 nineteen vessels on the water - seven M.R. product tankers, two suezmax tankers and ten drybulk carriers - with a total capacity of 1,195,000 deadweight tons (dwt) and has contracted to acquire an additional three drybulk carriers of 164,400 dwt aggregate capacity. Following these deliveries, the Company’s fleet will count a total of 22 vessels with an aggregate capacity of 1.4 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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements related to the completion and timing of the offering and the intended use of the proceeds, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

CONTACT DETAILS

For further information please contact:

Fenia Sakellaris

IMPERIAL PETROLEUM INC.

E-mail: info@imperialpetro.com

FAQ

What is Imperial Petroleum (IMPP) offering in the November 28, 2025 registered direct offering?

Imperial Petroleum is offering 9,523,900 common shares (or pre-funded warrants) with Class F and Class G warrants at a combined price of $6.30 per share and warrants.

How much gross capital will IMPP raise and when is the offering expected to close?

Gross proceeds are expected to be approximately $60.0 million and the offering is expected to close on or about December 1, 2025.

What are the terms of the warrants issued in the IMPP offering?

The Class F and Class G warrants have an exercise price of $6.30, are immediately exercisable and expire five years after issuance.

How does the IMPP offering affect existing shareholders?

The issuance of 9,523,900 shares plus exercisable warrants creates potential dilution for existing shareholders if warrants are exercised.

What will Imperial Petroleum use the net proceeds from the offering for?

The company intends to use net proceeds for working capital and general corporate purposes.

Where can investors obtain the prospectus supplement for the IMPP registered direct offering?

When available, the prospectus supplement and accompanying prospectus can be obtained at www.sec.gov or by contacting Maxim Group LLC's syndicate department.

What is Imperial Petroleum’s fleet size and planned deliveries noted in the announcement?

The company currently owns 19 vessels and has contracted to acquire 3 additional drybulk carriers, taking the fleet to 22 vessels (~1.4 million dwt) after deliveries.