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Imperial Petroleum ( NASDAQ: IMPP ) said Friday it bought two handysize dry bulk carriers from entities affiliated with the company's CEO.
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The company paid $25.5 million cash and issued 13,875 series C convertible preferred stock for the carriers.
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The dry bulk carriers were built in Japan at Nakai Zosen in 2012 and at Shin Kurushima Onishi in 2013 respectively, with an aggregate capacity of about 71,000 dwt, the company said.
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Delivery of the vessels and closing of the transactions is expected by the end of March 2023.
For further details see:
Imperial Petroleum buys 2 dry bulk carriers for cash and stock