Imperial Petroleum Inc. has entered into agreements to acquire three Japanese-built drybulk carriers with a total capacity of approximately 164,400 dwt and an average age of approximately 12.5 years for an aggregate purchase price of $51.6 million.
Ten percent of the purchase price will be paid in shares of the company’s common stock valued at the 30-day VWAP through the date of the acquisition agreement.
The vessels are being acquired from entities affiliated with Brave Maritime Corp Inc., which is affiliated with members of the Vafias family.
The transaction was approved by the independent directors of Imperial Petroleum.
The vessels are expected to be delivered between September 2025 and August 2026.
Imperial Petroleum has the option to pay for the vessels one year after the date of each respective purchase agreement, without interest. Following these vessel deliveries, and assuming no further acquisitions or dispositions, the company’s fleet will total 22 vessels.