Imperial Petroleum (IMPP) has signed a purchase agreement with two institutional investors to raise roughly $60 million through a registered direct offering of 9.52 million common shares or pre-funded warrants, along with Class F and Class G warrants for the same number of shares.
All securities are priced at $6.30, and the warrants become exercisable immediately with a five-year expiry.
The company plans to use proceeds for working capital and general corporate needs. The deal is expected to close around December 1, 2025, with Maxim Group LLC serving as placement agent.
IMPP currently trades at $4.87, or 18.8333 percent lower on the NasdaqCM.
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