ATHENS, Greece, Oct. 19, 2026 (GLOBE NEWSWIRE) -- Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”), a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, announced today that the Company’s management estimates Imperial Petroleum Inc’s Net Asset Value (“NAV”) to be $691.1 million. This translates to a NAV of $14.93 per common share currently outstanding and $11.72 per common share on a fully diluted basis (assuming exercise of outstanding warrants and options for cash),
The Company also announced that it has recently taken delivery of three additional vessels, for which it had previously announced acquisition agreements. The drybulk carrier Eco Cathar (2012 built) and the product tanker Clean Raider (2010 built) were delivered to the Company in late September 2026. The drybulk carrier Eco Nemesis (2015 built) was delivered to the Company in early October 2026. With these deliveries, Imperial Petroleum has a total of 24 vessels on the water.
NET ASSET VALUE (“NAV”)
The estimated NAV is based on estimates of the market value of the vessels in the fleet and investment in C3is Inc., plus current cash and time deposit balances, less vessel payment obligations and the liquidation value of our outstanding preferred shares.
The estimated NAV represents a snapshot in time, will likely change, and does not represent the amount a stockholder would receive now or in the future for such holder’s shares of the Company’s common stock. This NAV is based on a number of assumptions, estimates and data that are inherently imprecise and susceptible to uncertainty and changes in circumstances. Net Asset Value Calculation methodologies may vary across industries and companies.
ABOUT IMPERIAL PETROLEUM INC.
IMPERIAL PETROLEUM INC. is a DEBT FREE ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services. The Company owns a total of twenty-four vessels on the water - eight M.R. product tankers, one suezmax tanker, seven handysize drybulk carriers, five supramax drybulk carriers, two kamsarmax drybulk vessels and a post panamax drybulk carrier - with a total capacity of approximately 1,320,000 deadweight tons (dwt) and has contracted to acquire an additional handysize drybulk carrier of about 34,000 dwt capacity. Following this delivery, the Company’s fleet will count a total of 25 vessels with an aggregate capacity of about 1.3 million dwt. IMPERIAL PETROLEUM INC.’s shares of common stock and 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock are listed on the Nasdaq Capital Market and trade under the symbols “IMPP” and “IMPPP,” respectively.
Forward-Looking Statements
Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts, including statements relating to the net asset value of the Company. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although IMPERIAL PETROLEUM INC. believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, IMPERIAL PETROLEUM INC. cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, geopolitical conditions, including any trade disruptions resulting from tariffs, port fees or other protectionist measures imposed by the United States, China or other countries, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydockings, changes in IMPERIAL PETROLEUM INC’s operating expenses, including bunker prices, drydocking and insurance costs, ability to obtain financing and comply with covenants in any such financing arrangements, actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, the conflict in Ukraine and related sanctions, the conflicts in the Middle East, potential disruption of shipping routes due to ongoing attacks by Houthis in the Red Sea and Gulf of Aden and the effective closure of the Persian Gulf, including the Strait of Hormuz, due to the conflict between Iran and the U.S. and Israel, or accidents and political events or acts by terrorists.
Risks and uncertainties are further described in reports filed by IMPERIAL PETROLEUM INC. with the U.S. Securities and Exchange Commission.
Company Contact:
Fenia Sakellaris
IMPERIAL PETROLEUM INC.
E-mail: info@ImperialPetro.com
