Summary by Moomoo AI
Imperial Petroleum Inc. has announced the acquisition of two vessels from entities affiliated with Brave Maritime, which is connected to the Vafias family. The company has agreed to purchase a 40,170 dwt M.R. refined petroleum product tanker for $23.35 million and a 33,700 dwt handysize drybulk carrier for $15.5 million. The tanker, built in 2009 by SLS Shipbuilding in South Korea, and the carrier, constructed in 2012 by Shin Kochi Jyuko in Japan, are expected to be delivered charter-free by the end of December 2024 and August 2024, respectively. Imperial Petroleum plans to finance these acquisitions with its available cash and has the option to complete payment up to one year from the signing of each purchase agreement. This transaction is part of the company's strategic expansion and is detailed in their Form 6-K report filed with the SEC for May 2024. The report is also incorporated by reference into the company's various registration statements, including those on Form F-3 and Form S-8.