Preferred Stock Channel
Imperial Petroleum Inc | 8.75% Series A Preferred Shares (IMPPP)

Prospectus excerpt:  We are furnishing this prospectus to stockholders of StealthGas Inc. (“StealthGas”). We are currently a wholly-owned subsidiary of StealthGas. StealthGas will distribute all of our outstanding shares of common stock (“common shares”) and all of our outstanding shares of 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock (“Series A Preferred Shares”) as a special distribution to holders of its common stock on a pro rata basis on or about December 3, 2021. The common shares and the Series A Preferred Shares will be issued separately but are being distributed together in the special distribution to holders of StealthGas common stock. Stockholders of StealthGas will receive one Imperial Petroleum common share and one Imperial Petroleum Series A Preferred Share for every eight shares and forty-eight shares, respectively, of StealthGas common stock owned at the close of business on November 23, 2021. The distribution will be made on or about December 3, 2021. Fractional common shares and fractional Series A Preferred Shares will not be distributed. Instead, the distribution agent will aggregate fractional common shares and fractional Series A Preferred Shares, respectively, into whole shares, sell such whole shares in the open market at prevailing rates promptly after our common shares and Series A Preferred Shares, respectively, commence trading on the Nasdaq Capital Market, and distribute the net cash proceeds from the sales pro rata to each holder who would otherwise have been entitled to receive fractional common shares or fractional Series A Preferred Shares, as applicable, in the distribution.

Full Prospectus PDF », Secondary Prospectus PDF », IMPP Page »

Series:A
Redeemable?:Yes
Call Date:6/30/2022 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:4,775,272
Liquidation Preference:$25.00
Recent Market Price:$23.80
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-1.20 (-4.80%)
Annualized Dividend:2.1875
Recent Ex-Date:3/25/2024
Current Yield:9.19%
Original Coupon:8.75%
Pay Period:Quarterly
Pay Dates:30-Mar, 30-Jun, 30-Sep, 30-Dec
CDx3 Compliance Rating: Learn IMPPP's Rating
Imperial Petroleum is a provider of international seaborne transportation services to oil producers, refineries and commodities traders. Co. owns and operates a fleet of medium range product tankers that carry refined petroleum products such as gasoline, diesel, fuel oil and jet fuel, as well as edible oils and chemicals, and an Aframax tanker which is used for carrying crude oil.

Preferred: IMPPP


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Name:  Imperial Petroleum Inc
Website:  www.imperialpetro.com
Sector:  Shipping

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