Business
Pyxis Tankers Receives 180-day Extension from Nasdaq to Meet Minimum Bid Price Rule
Maroussi, Greece, December 14, 2021 – Pyxis Tankers Inc. (NASDAQ: PXS) (the “Company”), an international maritime transportation company focused on the
About this update from Pyxis Tankers Inc.
[{"type":"text","content":"Maroussi, Greece, December 14, 2021 – Pyxis Tankers Inc. (NASDAQ: PXS) (the “Company”), an international maritime transportation company focused on the product tanker sector, announced today that on December 14, 2021, it received a notification letter from the Nasdaq Stock Market (“Nasdaq”), granting the Company an additional 180-day extension, or until June 13, 2022 (the “Second Compliance Period”), to regain compliance with the minimum bid price requirement under Nasdaq’s listing rules. The Company can cure this deficiency if the closing bid price of its common shares is $1.00 per share or higher for at least 10 consecutive business days during the Second Compliance Period. The Company intends to regain compliance with the minimum bid price requirement within the Second Compliance Period and is considering all available options, including a reverse stock split if necessary. During this time, the Company's common shares will continue to be listed and traded on the Nasdaq Capital Market, and this notice will have no effect on the operations of the Company’s business. About Pyxis Tankers Inc. Pyxis Tankers Inc. owns a modern fleet of six 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. Pyxis Tankers believes it is positioned to opportunistically expand and maximize the value of its 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. The information discussed contained in, or that can be accessed through, Pyxis Tankers Inc.’s website, is not incorporated into, and 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 performa...