Imperial Petroleum Inc. 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. 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.
Source: S&P Capital IQ