Business
Pyxis Tankers Inc. Announces Completion of Sale of Pyxis Delta
Maroussi, Greece, January 15, 2020 – Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS), (the “Company” or “Pyxis Tankers”), an emerging growth pure play product
About this update from Pyxis Tankers Inc.
[{"type":"text","content":"Maroussi, Greece, January 15, 2020 – Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS), (the “Company” or “Pyxis Tankers”), an emerging growth pure play product tanker company, today announced that it has completed the sale of the Pyxis Delta, a 2006-built 46,616 dwt product tanker. The sale proceeds will be used to repay outstanding indebtedness secured by the vessel and for general corporate purposes.\n Valentios Valentis, our Chairman and CEO commented: “This transaction furthers our operating strategy to focus on modern eco-MR tankers and reflects a more efficient allocation of capital resources to improve our financial condition. We are well-positioned to generate significant cash flows from an improving market primarily due our staggered time charters and our continued cost discipline. We continue to be optimistic about the prospects for the product tanker sector, and this sale enhances our financial flexibility to take advantage of potential growth opportunities.” About Pyxis Tankers Inc. We currently own a modern fleet of five tankers engaged in seaborne transportation of refined petroleum products and other bulk liquids. We are focused on growing our fleet of medium range product tankers, which provide operational flexibility and enhanced earnings potential due to their “eco” features and modifications. We are positioned to opportunistically expand and maximize our fleet due to competitive cost structure, strong customer relationships and an experienced management team whose interests are aligned with those of its shareholders. For more information, visit: http://www.pyxistankers.com. Information contained in the Company website does not constitute part of this press release. Forward Looking Statements This press release includes “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995 in order to encourage companies to provide prospective information about their business. These statements include statements about our plans, strategies, goals financial performance, prospects or future events or performance and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases...