Imperial Petroleum Inc. - 2011-09-16

The company has entered into definitive agreements with accredited and institutional investors to raise an aggregate of $3.1 million before fees and expenses in a private placement of equity securities. Under the terms of the agreements, the company will issue 4,143,335 shares of its common stock at $0.75 per share and warrants to purchase up to 2,071,668 shares of its common stock with a $1.00 per share exercise price, subject to adjustment therein, and a term of 5 years. The offering is expected to close on or about September 21, 2011, subject to customary closing conditions.