Greek-based Imperial Petroleum Inc., a company specialising in maritime transport of petroleum products, crude oil, and dry bulk cargo, has announced an agreement with two institutional investors for a $60mn fundraising via a registered direct offering. The transaction includes the sale of 9,523,900 common shares, or pre-funded warrants in lieu thereof, accompanied by Class F and Class G warrants, each enabling the purchase of up to 9,523,900 additional common shares.
The securities are being offered at a combined price of $6.30 per share, including the warrants. Both Class F and Class G warrants carry an exercise price of $6.30, are immediately exercisable, and will expire five years from the date of issuance. The offering is expected to close on December 1, subject to customary closing conditions.
Strengthening liquidity and allocation plans
According to company statements, net proceeds from the transaction will be used for working capital and general corporate purposes. No further details were provided regarding potential acquisitions or expansion plans tied to the capital raise. Maxim Group LLC is acting as the sole placement agent for the deal.
The offering is being made pursuant to an existing shelf registration statement on Form F-3, previously declared effective by the U.S. Securities and Exchange Commission (SEC) in December 2022. This regulatory structure allows the company to raise capital in compliance with U.S. law while streamlining the financing process.
Market context favourable to targeted issuances
The structure of the offering includes the option for investors to substitute common stock with pre-funded warrants, offering subscription flexibility often favoured in volatile markets. The dual-warrant strategy reflects an approach aimed at broadening the investor base while maintaining capital structure control.
Maritime transport, particularly in the energy and dry bulk segments, continues to attract funding despite global market instability. Listed firms operating in this space seek to secure medium-term resources by leveraging regulatory mechanisms designed for raising capital outside traditional public markets.
