ATHENS, Greece, Dec. 22, 2025 (GLOBE NEWSWIRE) -- Imperial Petroleum Inc. (NASDAQ:IMPP) (the "Company"), a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, announced today that at September 30, 2025, pro forma for the Company's registered equity offering completed on December 1, 2025, the Company's management estimates Imperial Petroleum Inc's Net Asset Value ("NAV") to be $508.03 million. This translates to a NAV of $11.38 per common share currently outstanding and $9.21 per common share on a fully diluted basis (assuming exercise of all outstanding warrants and options for cash), following the equity offering.

As of the date hereof, the Company's largest stockholder, CEO and Chairman, Harry Vafias, directly and indirectly, beneficially owns 13.45 million 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, reflecting his confidence in the prospects for the Company.

NET ASSET VALUE ("NAV")

The estimated NAV is based on estimates of the market value of the vessels in the fleet, investment in C3is Inc., and cash based on the financial statements as of September 30, 2025, pro forma for our equity offering completed on December 1, 2025, less the liquidation value of outstanding preferred shares. The estimated NAV does not reflect our agreements to acquire seven vessels entered into in August and December 2025, including the vessel values and related payment obligations.

The estimated NAV represents a snapshot in time, will likely change, and does not represent the amount a stockholder would receive now or in the future for such holder's shares of the Company's common stock. This NAV is based on a number of assumptions, estimates and data that are inherently imprecise and susceptible to uncertainty and changes in circumstances. Net Asset Value Calculation methodologies may vary across industries and companies.

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 nineteen vessels on the water - seven M.R. product tankers, two suezmax tankers, three handysize drybulk carriers, five supramax drybulk carriers and two kamsarmax drybulk vessels - with a total capacity of 1,195,000 deadweight tons (dwt) and has contracted to acquire an additional five handysize drybulk carriers, a post panamax drybulk carrier and a product tanker of 319,400 dwt aggregate capacity. Following these deliveries, the Company's fleet will count a total of 26 vessels with an aggregate capacity of about 1.5 million 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.

Forward-Looking Statements

Matters discussed in this release may constitute forward-looking statements. 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, and underlying assumptions and other statements, which are other than statements of historical facts, including statements relating to the net asset value of the Company. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. 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 the strength of world economies and currencies, geopolitical conditions, including any trade disruptions resulting from tariffs and other protectionist measures imposed by the United States or other countries, 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, changes in IMPERIAL PETROLEUM INC's operating expenses, including bunker prices, drydocking and insurance costs, ability to obtain financing and comply with covenants in any such financing arrangements, actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, the conflict in Ukraine and related sanctions, the conflicts in the Middle East, potential disruption of shipping routes due to ongoing attacks by Houthis in the Red Sea and Gulf of Aden or 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.

Company Contact:

Fenia Sakellaris

IMPERIAL PETROLEUM INC.

E-mail: info@ImperialPetro.com