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Impanation is the opposite of Transubstantiation.
Transubstantiation: No Bread. Only Christ.
Consubstantiation: Christ is present along with the bread
Impanation: Christ is present as the substance of bread. That is "Christ has become bread".
The following table might help you understand:
Substance of | Bread | Christ | End Result
--------------------------------------------------------------
Transubstantiation | ✘ | ✔ | Bread becomes Christ
Consubstantiation | ✔ | ✔ | Christ is "in, with and under the bread"
Impanation | ✔ | ☑ as bread | Christ becomes bread
The proponents of Impanation believe that it occurs in the same way God (a different type of being) became man. That is, God took humanity and raised it to the level of his divinity. There by sharing his divine attributes with his humanity (like getting into a locked room with his physical body). In the same way Christ's divine attributes are shared by the Eucharistic bread via his body.
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