Imperial Petroleum Inc. (NASDAQ: IMPP), an Athens-based ship-owning company, announced that management estimates its Net Asset Value at $691.1 million, or $14.93 per common share currently outstanding and $11.72 per common share on a fully diluted basis, assuming the exercise of outstanding warrants and options for cash.

The NAV estimate is based on the estimated market value of the company's fleet and its investment in C3is Inc., plus cash and time deposit balances, less vessel payment obligations and the liquidation value of outstanding preferred shares. The company noted that the estimate represents a snapshot in time and is subject to change.

The company also announced the delivery of three vessels previously announced under acquisition agreements. The drybulk carrier Eco Cathar, built in 2012, and the product tanker Clean Raider, built in 2010, were delivered in late September 2026. The drybulk carrier Eco Nemesis, built in 2015, was delivered in early October 2026.

With these additions, Imperial Petroleum's fleet stands at 24 vessels, with a combined capacity of approximately 1,320,000 deadweight tons. The fleet includes eight medium-range product tankers, one suezmax tanker, seven handysize drybulk carriers, five supramax drybulk carriers, two kamsarmax drybulk vessels, and one post-panamax drybulk carrier. The company has contracted to acquire one additional handysize drybulk carrier of approximately 34,000 deadweight tons, which would bring the total fleet to 25 vessels.