New York-listed StealthGas spinoff Imperial Petroleum has struck for the second time with a follow-on equity raise, this time grossing $60m in a raid that could allow for further vessel acquisitions.

The windfall in a deal led by the Maxim Group came at a substantial cost, however, to the owner’s share price. Imperial had been trading at $2.73 prior to disclosing the deal, which priced on Monday at $1.60 — a 41% discount.

Imperial began life on 6 December as a spin-off from Nasdaq-listed StealthGas, which operates LPG carriers.