Imperial Petroleum Announces $10 Million Share Repurchase Program

Group 1 - The Company, Imperial Petroleum Inc., has announced a share repurchase program authorized by its Board of Directors, allowing the repurchase of up to $10,000,000 of its common stock [1] - The shares may be repurchased through open market or privately negotiated transactions, with the program subject to suspension or discontinuation at any time [1] Group 2 - Imperial Petroleum Inc. is a ship-owning company that provides petroleum products, crude oil, and dry bulk seaborne transportation services [2] - The Company currently owns a total of twenty vessels, including seven M.R. product tankers, two suezmax tankers, three handysize drybulk carriers, five supramax drybulk carriers, two kamsarmax drybulk vessels, and one post panamax drybulk carrier, with a total capacity of approximately 1,291,000 deadweight tons (dwt) [2] - The Company has contracted to acquire an additional five handysize drybulk carriers and a product tanker, which will increase its fleet to a total of 26 vessels with an aggregate capacity of about 1.5 million dwt [2] - The common stock and 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock of Imperial Petroleum Inc. are listed on the Nasdaq Capital Market under the symbols "IMPP" and "IMPPP," respectively [2]