Imperial Petroleum Inc. (IMPP) Closes $60M Equity Offering

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Go back to Imperial Petroleum Inc. (IMPP) Closes $60M Equity Offering

Imperial Petroleum Announces Closing of Upsized $60 Million Underwritten Public Offering

March 23, 2022 12:52 PM EDT

ATHENS, Greece, March 23, 2022 (GLOBE NEWSWIRE) -- Imperial Petroleum Inc. (Nasdaq: IMPP) (the Company) announced today the closing of an upsized underwritten public offering of 37,500,000 units at a price of $1.60 per unit. Each unit consisted of one common share (or prefunded warrant in lieu thereof) and one Class B warrant to purchase one common share, and immediately separated upon issuance. In addition, the Company granted the underwriter a 45-day option to purchase up to an additional 5,624,950 common shares and/or prefunded warrants and/or 5,624,950 Class B warrants, at the public offering price less underwriting... More