2023-03-12 23:50:18 ET
Summary
- Over the past 15 months, common shares have been subject to relentless dilution. Aggressive open market sales have resulted in share prices tumbling to new lows recently.
- In contrast, business fundamentals for Imperial Petroleum's tanker fleet have never been better with charter rates and second hand vessel values sitting at multi-year highs.
- On the recent Q4 conference call, management openly stated its intent to continue shareholder dilution for the time being.
- Discussing weaker-than-expected fourth quarter results and ugly terms of the company's most recent related-party deal.
- Given the company's stated intent to continue common shareholder dilution, frequent related-party deals and the likelihood of a near-term reverse stock split, even the most speculative investors should abstain from chasing Imperial Petroleum's common shares.
For further details see:
Imperial Petroleum: Relentless Dilution To Continue For Common Equityholders - Sell