Imperial Petroleum management estimates NAV of $508.03M at September 30

Imperial Petroleum (IMPP) announced that at September 30, pro forma for the company’s registered equity offering completed on December 1, the company’s management estimates Imperial Petroleum’s Net Asset Value to be $508.03M. This translates to a NAV of $11.38 per common share currently outstanding and $9.21 per common share on a fully diluted basis, following the equity offering. As of the date hereof, the Company’s largest stockholder, CEO and Chairman, Harry Vafias, directly and indirectly, beneficially owns 13.45M shares, or 30.1 %, of the outstanding Common Stock, and 200,209 shares, or 25.2%, of the outstanding Series A Cumulative Redeemable Perpetual Preferred Stock, and has not sold a single share since the company’s inception.