Imperial Petroleum Inc. Regains Compliance with Nasdaq Minimum Bid Price Requirement
16 Mayo 2023 - 8:10AM
IMPERIAL PETROLEUM INC. (the “Company”) (Nasdaq: IMPP) today
announced that it has received a letter from The Nasdaq Stock
Market LLC (“Nasdaq”) informing the Company that it has
regained compliance with the minimum bid price requirement under
Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq
Capital Market.
The letter noted that, as a result of the
closing bid price of the Company's common stock having been at
$1.00 per share or higher for at least ten consecutive trading
days, from April 28, 2023 through May 11, 2023, the Company has
regained compliance with Nasdaq’s Listing Rule 5550(a)(2).
Forward-Looking Statements
Matters discussed in this release may constitute
forward-looking statements within the meaning of the safe harbor
provisions of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, including statements
with respect to the IMPERIAL PETROLEUM INC’s ability to maintain
compliance with Nasdaq’s continued listing standards and remain
listed on Nasdaq or other major stock exchange and other statements
that are forward looking. Forward-looking statements reflect our
current views with respect to future events and financial
performance and may include statements concerning plans,
objectives, goals, strategies, future events or performance, or
impact or duration of the COVID-19 pandemic and
underlying assumptions and other statements, which are other than
statements of historical facts. The forward-looking statements in
this release are based upon various assumptions. Although IMPERIAL
PETROLEUM INC. believes that these assumptions were reasonable when
made, because these assumptions are inherently subject to
significant uncertainties and contingencies which are difficult or
impossible to predict and are beyond our control, IMPERIAL
PETROLEUM INC. cannot assure you that it will achieve or accomplish
these expectations, beliefs or projections. Important factors that,
in our view, could cause actual results to differ materially from
those discussed in the forward-looking statements include risks
discussed in our filings with the SEC and the following: the impact
of the COVID-19 pandemic and efforts throughout the world to
contain its spread, the strength of world economies and currencies,
general market conditions, including changes in charter hire rates
and vessel values, charter counterparty performance, changes in
demand that may affect attitudes of time charterers to scheduled
and unscheduled drydockings, shipyard performance, changes in
IMPERIAL PETROLEUM INC’s operating expenses, including bunker
prices, drydocking and insurance costs, ability to obtain financing
and comply with covenants in our financing arrangements, or actions
taken by regulatory authorities, potential liability from pending
or future litigation, domestic and international political
conditions, the conflict in Ukraine and related sanctions,
potential disruption of shipping routes due to accidents and
political events or acts by terrorists.
Risks and uncertainties are further described in
reports filed by IMPERIAL PETROLEUM INC. with the U.S. Securities
and Exchange Commission.
About IMPERIAL PETROLEUM
INC.IMPERIAL PETROLEUM INC. is a ship-owning company
providing petroleum products, crude oil and drybulk seaborne
transportation services. The Company owns a total of twelve
vessels; five M.R. product tankers, one Aframax oil tanker, two
Suezmax tankers and four Handysize dry bulk carriers with a total
capacity of 808,000 deadweight tons (dwt). IMPERIAL PETROLEUM
INC.’s shares of common stock and 8.75% Series A Cumulative
Redeemable Perpetual Preferred Stock are listed on the Nasdaq
Capital Market and trade under the symbols “IMPP” and “IMPPP,”
respectively.
For further information, please contact:
Company Contact:
Fenia SakellarisIMPERIAL PETROLEUM
INC.E-mail: info@ImperialPetro.com |
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