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.
