Business: Imperial Petroleum Inc. 8.75% Series A Preferred Shares, liquidation preference $25 per share, redeemable at the issuer's option on or after 06/30/2022 but before 06/30/2023 at $26.00 (104%) per share plus accrued and unpaid dividends; on or after 06/30/2023 but before 06/30/2024 at $25.75 (103%) per share plus accrued and unpaid dividends; on or after 06/30/2024 but before 06/30/2025 at $25.50 (102%) per share plus accrued and unpaid dividends; on or after 06/30/2025 but before 06/30/2026 at $25.25 (101%) per share plus accrued and unpaid dividends and on or after 06/30/2026 at $25.00 (100%) per share plus accrued and unpaid dividends, and with no stated maturity. <p> Cumulative distributions of 8.75% per annum ($2.1875 per annum or $0.546875 per quarter) will be paid quarterly on 3/30, 6/30, 9/30 & 12/30 to holders of record on the record date fixed by the board, not more than 60 days or less than 15 days prior to the payment date (NOTE: the ex-dividend date is the record date). <p> Dividends paid by preferreds issued by foreign companies classified as Passive Foreign Investment Company (PFIC) are NOT eligible for the preferential 15% to 20% tax rate on dividends and, since they are issued by a foreign company, are NOT eligible for the dividends received deduction for corporate holders. This company may lose its PFIC designation in this or a future tax year (see page 119 of the prospectus for further information). <p> Upon the occurrence of a change of control resulting in the common shares of the surviving entity no longer being listed on the NYSE, the AMEX or the Nasdaq exchanges the company will have the option within 90 days to redeem the preferred shares at $26.50 per share plus accrued and unpaid dividends prior to 12/31/2023 and at the call price plus accrued and unpaid dividends after 12/31/2023. <p> This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of distributions and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.