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I hope that wasn't the run. $IMPP
This is from the SeekingAlpha report.
Bottom Line
Following a 1:15 reverse stock split in late April, Imperial Petroleum stock reported very strong first quarter results last month and recently repaid all of the company's outstanding debt.
Last week, the company updated investors on the proposed spin-off of two handysize dry bulk carriers into a new company called C3is Inc. with the record and distribution date having been set for June 13 and June 21 respectively. With shares expected to trade with due bills following the record date, investors will have to hold their positions until at least June 22 to participate in the spin-off.
With management having promised to abstain from additional common shareholder dilution for the time being and with the spin-off date approaching quickly, Imperial Petroleum's common shares have rallied to new four month highs in recent weeks but still trade at a whopping 80%+ discount to estimated NAV.
With the reverse stock split now in the rear-view mirror and the upcoming C3is Inc. spin-off representing a sizeable dividend for common equity holders as well as anticipated lack of near-term dilution, I am upgrading Imperial Petroleum's common shares from "Sell" to "Hold".
Income-oriented investors should continue considering the company's 8.75% Series A Preferred Shares which currently offer a double-digit and pretty safe yield.
Editor's Note: This article covers one or more microcap stocks. Please be aware of the risks associated with these stocks.
This article was written by
Henrik Alex profile picture
Henrik Alex
15.76K Followers
For the whole report.
https://seekingalpha.com/article/4610413-imperial-petroleum-shares-move-higher-dry-bulk-carrier-spin-off-approaching-hold
Starting to look like people are not screwing around with this anymore. Nice to see green and bigger bids. $ENZC!
C3is Inc. Common Stock When Issued (CISSV)
NasdaqGM - NasdaqGM Delayed Price. Currency in USD
Follow
0.0000- (-)
At close: June 12 08:00PM EDT
24.0000 +24.00 (+239,999,900.00%)
Pre-Market: 08:02AM EDT
New Listing
CISSV is newly listed on Nasdaq Fund Network effective Jun. 13, 2023
https://finance.yahoo.com/quote/CISSV?p=CISSV&.tsrc=fin-srch
Pretty good article about Imperial and C3is spin off answers many of our questions. $IMPP
https://seekingalpha.com/article/4610413-imperial-petroleum-shares-move-higher-dry-bulk-carrier-spin-off-approaching-hold
Why do we have to keep fighting over this nickel? Keep feeding shares from nowhere into the ask. $ENZC
Shocking! Big time flippers will probably flip this several times today. Probably trading live on YouTube. $IMPP
Someone needed to pull out. How embarrassing. Will regret. $ENZC
A little slow out of the gate. Not what I was expecting this AM. Maybe it will pick up later. Then after today it will probably trade right back the way it has been trading until people realize what a gem this is. $IMPP
Gobbling up the .008s. Does somebody know something is coming? Liquidity Event maybe? Hmm? $WDLF
I'm surprised this didn't go higher today. I guess 1 more day of trading. Maybe no upward movement. Who knows anymore. $IMPP
Anyone remember when $GASS spun off $IMPP? Did Gass people get so many shares of Impp? I came into Impp after that so I missed all that action. Just wondering is this the same as that Spin-off deal.
Oh I see our tag team is back INTL and OTCN. Just never ends. Strange trading patterns. I'll be glad when the games are over. $ENZC
I think trading is thin and holding back abit. Started yesterday. What are people waiting for? Load up for free shares. I don't know how these spin-offs work. Many questions. Who's running it? Harry? Didn't Harry buy 2 other bulkers? What happen to those? C3is getting them too? $IMPP I'm more worried about the sell off of it all after all said and done. When to get out has never been easy.
Why hasn't this been able to climb back up to the teens again? Whats with all this headwind? Everything is falling into place. Where are the IPF ads? Thought we would see more by now. $ENZC
Up 12%? No news? No OTCN? No INTL? No VERT? Whats going on? This is not normal. $ENZC
Look it up on Barchart. You must be new to this.
https://www.barchart.com/stocks/quotes/IMPP/cheat-sheet
Who's shares? Who still has stock they can't live with? $ENZC
Should be interesting next 3 days of trading before the record date. Are you holding? How high are we going to pump it? $IMPP
I'll take green over red. I don't think it has sunk in that OTCN has been absent for days. The deal is still on. Why not back to .13? $ENZC
Best shot for a 100% day. Wouldn't that be something. $WDLF I still have hope. Not much of this $$ wise anymore. Lotto ticket.
We need about a 7000% gain here to get up to Ken's nickel. Little ways to go. $WDLF
Probably will sell it all @.0007. for a .0001 flip. $WDLF
For those still in this, I think its dead money until Ken makes it happen. $WDLF
A lot of Woulda shoulda coulda's here. I remember this trading 100M ave. shares a day and @ .02 cents. $WDLF
What it take? 3-4 weeks? Since we hit .13 back around May 10th, its been pushed and shoved down hill. $ENZC
OTCN is on the buy side today. Out of shares? $ENZC
There's no sugar coating this stock anymore. What a disaster. And wha'ts with NITE's bid @ .001 can't even get filled. $WDLF
The way this stock trades. C3is will probably sell-off and end up red after it opens. People cashing in their free money. Pigs! $IMPP
I see people are probably looking at IMPP and buying $IMPPP. Currently up 1.20%
Only 16M shares. I would have thought there would be more buy and hold. Not flip rinse and repeat. Sell before the holding date, smart? This looks to be a very long week. This is stumbling coming out of the gate. $IMPP
OTCN has not stopped laying the wood on us. Until they run out. $ENZC
I don't understand why any company under Ken's tutelage hasn't had some event happen after all these years. Whats the hold up? Why is this taking so long? I know Biden's economy so on and so forth is going on. Can't be helping. $WDLF
That Starbucks coffee now will cost you about 12,730 WDLF shares for a 7 dollar cup of joe.
OTCN still hanging around. Aren't they done yet? $ENZC
They still have 10 ships. Revenues still strong. The 2 ships spun-off did not make any difference in last Qrts. Revs. $IMPP
Oh yay, Its the post podcast drop. Should have seen it coming. $WDLF
Maybe we will see a Billion shares traded today. Ken should be doing some buying back. Pretty cheap down here. $WDLF
Last one out. Turn off the lights. WDLF
Can't wait to find out what the opening share price will be for our new shares. With only 16.26M shares outstanding of IMPP, divide that by 8 gives us only 2M shares available of our new companies stock. C3is. However, because people are already calling these "free" shares. I can only conclude people will dump these right away and take the money. I've never been in stock doing a spin-off before. Many scenarios are possible after all said and done. $IMPP
Found a great article if some of you would like to learn more about spinoffs.
How Do Spinoffs Impact Investors in Parent and Subsidiary Companies?
https://www.investopedia.com/ask/answers/032415/how-do-spinoffs-impact-investors-both-parent-and-subsidiary-companies.asp
We all get 1 for 8 new stock shares of spin off. $IMPP