IMPPP Acquires Three Japanese-built Ships; 10% Paid in Stock

Rhea-AI Filing Summary

Imperial Petroleum agreed to acquire three Japanese-built drybulk carriers totaling approximately 164,400 dwt for an aggregate purchase price of $51.6 million. The vessels average about 12.5 years in age and are being bought from entities affiliated with Brave Maritime Corp Inc., which is linked to members of the Vafias family; the related-party transaction was approved by the company’s independent directors. Ten percent of the purchase price is payable in the company’s common stock valued at the 30-day VWAP through the acquisition date, and Imperial may elect to pay for each vessel up to one year after its purchase date without interest. Deliveries are expected between September 2025 and August 2026, and assuming no other changes the fleet will total 22 vessels after these deliveries.

Positive

• Fleet expansion: Acquisition will increase the fleet to 22 vessels assuming no other changes.
• Managed cash impact: 10% of the aggregate price is payable in common stock, reducing immediate cash outlay.
• Flexible payment: Company may defer payment for each vessel up to one year without interest, easing short-term liquidity needs.

Negative

• Related-party transaction: Vessels are purchased from entities affiliated with Brave Maritime Corp Inc. and members of the Vafias family, which raises governance scrutiny despite independent director approval.
• Older vessels: The acquired ships have an average age of ~12.5 years, which may imply higher maintenance or operating considerations compared with newer tonnage.
• Staggered delivery timing: Deliveries stretch from Sept 2025 to Aug 2026, delaying full fleet benefits until later dates.

Insights

Maritime/Shipping Analyst

TL;DR: Adds three mid-aged drybulk vessels, increasing fleet capacity and allowing near-term cash relief via stock payment and deferred, interest-free payment option.

The acquisitions increase the company's owned capacity by about 164,400 dwt across three Japanese-built bulkers with an average age of 12.5 years, at a total cost of $51.6 million. The staggered delivery window from Sept 2025 to Aug 2026 spreads integration timing. The structure—10% paid in equity and an option to defer payment for up to one year without interest—reduces immediate cash requirements and supports liquidity planning, while bringing incremental earning capacity once vessels are delivered and deployed.

Corporate Governance / Transactions Specialist

TL;DR: Transaction is with affiliates of Brave Maritime (Vafias family) and was approved by independent directors; related-party elements and stock consideration merit disclosure and oversight.

The seller affiliation is explicitly disclosed and the company reports independent director approval, which addresses a key governance step. Material terms include 10% equity consideration valued at the 30-day VWAP and an interest-free payment deferral option of up to one year per purchase. These commercial features have implications for shareholder dilution, timing of cash outflows, and related-party oversight, all of which are documented in the filing.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2025

Commission File Number 001-41095

IMPERIAL PETROLEUM INC.

(Translation of registrant’s name into English)

331 Kifissias Avenue Erithrea 14561 Athens, Greece

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒   Form  40-F ☐

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Vessel Acquisition Agreements

Imperial Petroleum Inc. (the “Company”) has entered into agreements to acquire three Japanese-built drybulk carriers, with a total capacity of approximately 164,400 dwt and an average age of approximately 12.5 years, for an aggregate purchase price of $51.6 million, 10% of which is payable by the Company in shares of its common stock valued at the 30-day VWAP through the date of the acquisition agreement, from entities affiliated with Brave Maritime Corp Inc. The transaction with Brave Maritime, which is affiliated with members of the Vafias family, was approved by the independent directors of the Company.

The vessels are expected to be delivered between September 2025 and August 2026. The Company has the option to pay for the vessels one year after the date of each respective purchase agreement, without interest. Following these vessel deliveries, and assuming no further acquisitions or dispositions, the Company’s fleet will total 22 vessels.

*****

This report on Form 6-K is hereby incorporated by reference into the Company’s Registration Statement on Form F-3 (Reg. No. 333-268663), Post Effective Amendment No. 1 to Form F-1 on Form F-3 Registration Statement (Reg. No. 333-266031) and Registration Statements on Form S-8 (Reg. Nos. 333-275745 and 333-278813), including the prospectuses contained therein.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: August 8, 2025

IMPERIAL PETROLEUM INC.
By:		/s/ Ifigenia Sakellari
Name:		Ifigenia Sakellari
Title:		Interim Chief Financial Officer

FAQ

What did Imperial Petroleum (IMPPP) announce in this Form 6-K?

Imperial Petroleum announced agreements to acquire three Japanese-built drybulk carriers for an aggregate purchase price of $51.6 million.

How much carrying capacity and what is the age profile of the vessels?

The three vessels total approximately 164,400 dwt with an average age of about 12.5 years.

What are the payment terms for the vessel purchases?

The aggregate price is $51.6 million; 10% is payable in common stock valued at the 30-day VWAP, and the company may elect to pay for each vessel up to one year after the purchase date without interest.

Who is selling the vessels and is this a related-party transaction?

The vessels are being bought from entities affiliated with Brave Maritime Corp Inc., which is affiliated with members of the Vafias family; the transaction was approved by the company’s independent directors.

When will the vessels be delivered and how will the fleet change?

Deliveries are expected between September 2025 and August 2026, and the fleet will total 22 vessels after these deliveries, assuming no other acquisitions or dispositions.