Business
Pyxis Tankers Announces Pricing of Public Offering of Series A Cumulative Convertible Preferred Stock
Maroussi, Greece, July 14, 2021 – Pyxis Tankers Inc. (NASDAQ: PXS, PXSAP, PXSAW) (the “Company” or “Pyxis Tankers”), an international pure play product tanker
About this update from Pyxis Tankers Inc.
[{"type":"text","content":"Maroussi, Greece, July 14, 2021 – Pyxis Tankers Inc. (NASDAQ: PXS, PXSAP, PXSAW) (the “Company” or “Pyxis Tankers”), an international pure play product tanker company, today announced the pricing of an underwritten public offering (the “Offering”) of 308,487 shares of 7.75% Series A Cumulative Convertible Preferred Shares (the “Preferred Shares”) at a public offering price of $20.00 per share. Pyxis Tankers expects to receive gross proceeds of approximately $6.17 million from the Offering, prior to deducting underwriting discounts and estimated offering expenses. The Company intends to use the net proceeds from the Offering for general corporate purposes, including working capital and potential vessel acquisitions. The Offering is expected to close on July 16, 2021, subject to the satisfaction of customary closing conditions. ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the Offering. The securities described above are being offered by Pyxis Tankers pursuant to a shelf registration statement on Form F-3 (File No. 333-256167) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (the “SEC”). The press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. A registration statement relating to this Offering, including a preliminary prospectus supplement, has been filed with the SEC and is available at the SEC’s website at http://www.sec.gov. Before investing, you should read the registration statement, including the preliminary prospectus supplement contained therein, for information about Pyxis Tankers and this Offering. The final prospectus supplement related to the Offering will also be filed with the SEC; copies of which may be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York, 10004, by telephone at (877) 436-3673, by email at [email protected]. About Pyxis Tankers Inc. We currently own a modern fleet of five tankers engaged in seabo...