What's Going On With Imperial Petroleum (IMPP) Stock?

Imperial Petroleum Inc IMPP shares are trading lower by 4.0% to $1.56 Monday morning. The stock is lower by 40% since Friday's open after the company announced the pricing of approximately $17 million of its units in a registered direct offering at a price of $2 per unit.

Each unit includes one common stock share (or pre-funded warrant) and one warrant for another share. Maxim Group LLC is the exclusive placement agent. The offering is expected to close around August 15.

See Also: AMC Entertainment Stock Is Falling While APE Units Rise

Additionally, Imperial Petroleum on Thursday reported second-quarter earnings of $1.46 per share. The company reported $59.04 million in sales this quarter. This sales figure is a 420% increase over sales of $11.35 million in the same period last year.

According to data from Benzinga Pro, IMPP has a 52-week high of $7.63 and a 52-week low of $1.62.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Newswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!