STOCKS TELEGRAPH

Tag: IMPP stock price

  • Imperial Petroleum Inc. (IMPP) stock is gaining in the Pre-market; here is why?

    Imperial Petroleum Inc. (IMPP) gained in the pre-market despite any new or significant development in the business. IMPP values at $0.70, gaining more than 42% from yesterday’s closing price. The stock closed at $0.49 at the end of the last trading session. The stock volume traded in the last trading session was 5.80 million shares. The current market cap is around $7.05 million.

    IMPP SEC Filings

    The Company’s stock is gaining in the pre-market despite any significant news. The reason links to its recently announced SEC filings.

    On February 14, 2022, the Company announced a Statement of acquisition of beneficial ownership by individuals in an SEC Filing.

    The Company has also recently announced the closing of $12 million worth of underwritten public offering. IMPP announced a 9.600,000 unit underwritten public offering at $1.25 per unit. Each unit included one common share and one Class A warrant to acquire one common share. A 45-day option to acquire up to 1,440,000 more common shares, pre-funded warrants, or Class A warrants was also provided to the underwriter, which was partly exercised to purchase 1,440,000 additional Class A Warrants.

    Before underwriting discounts and commissions and expected offering costs, the Company’s total proceeds were about $12.0 million.

    IMPP expects to utilize the funds raised of the offering for capital expenditures, including the purchase of new vessels yet to be determined. Class A warrants are immediately exercisable for one common share at $1.25 each and expire five years after issue.

    Towerview Llc bought shares of IMPP

    Towerview Llc included Imperial Petroleum in its investment portfolio. The purchase costs ranged from $2.02 to $7.5, with an average of $2.66 cost per unit. This transaction had a 0.42 percent effect on a portfolio. As of 12/31/2021, there were 395,779 shares in the Company’s stock.

    Conclusion

    The stock of the IMPP is gaining despite any critical news. The rise may be due to the upcoming results of the fiscal year 2021. The will soon announce its FY21 results.

  • Imperial Petroleum Inc. (IMPP) stock experienced downfall – Latest News

    Imperial Petroleum Inc. (IMPP) stock experienced downfall – Latest News

    Imperial Petroleum Inc. (IMPP) experienced a decrease of 4.66% in premarket. However, the last trading session closed at $0.66 with a decrease of 8.87%.

    About IMPP

    Imperial Petroleum Inc. is a shipowner that provides seaborne transportation services for petroleum products and crude oil. With a combined capacity of 255,804 deadweight tons, the company owns three M.R. product tankers and one Aframax oil tanker. On the Nasdaq Capital Market, Imperial Petroleum Inc.’s common stock and 8.75 percent Series A Cumulative Redeemable Perpetual Preferred Stock trade under the symbols “IMPP” and “IMPPP,” respectively.

    Closing of $12.0 Million Underwritten Public Offering

    On 3rd February 2022, IMPP announced the closure of a $12.0 Million Underwritten Public Offering. Each unit was made up of one common share and one Class A warrant to purchase one common share, and it was split up as soon as it was issued. Moreover, the Company also conferred the underwriter a 45-day option of purchasing up to an additional 1,440,000 common shares, subsidized warrants, and 1,440,000 Class A warrants. Before underwriting reductions and commissions, as well as expected offering costs, the gross proceeds to the Company were approximately $12.0 million.

    Third Quarter 2021 Financial Results – Latest News by IMPP

    IMPP reported third-quarter 2021 financial results on 21st December 2021. The company announced revenue of $4.1 million. Not only this but voyage expenses and vessels’ operating expenses came out to be $0.7 million and $1.9 million respectively. Moreover, drydocking costs were $0.9 million and EBITDA was around $1.2 million. It’s unclear when COVID-19, the fundamental component that suffocates all economic activity, will start to have a lessening effect on energy demand. From a strategic perspective, the company has the patience to wait while still running the business cautiously, with excellent earnings transparency and a stable capital position as cornerstones.

    What’s Next?

    IMPP is pleased to report that the spin-off of STEALTHGAS’ four tankers into a new publicly-traded company has been completed successfully. The market has been affected by COVID-19 uncertainties, resulting in lower oil demand and crude shipments this year, which has been difficult for ship owners. Based on the carve-out financial statements generated, the company’s third-quarter performance was really impoverished.