Business
Pyxis Tankers Regains Compliance with NASDAQ’s Minimum Closing Bid Price Rule
Maroussi, Greece, February 17, 2021 - Pyxis Tankers Inc. (NASDAQ CM: PXS) (the "Company" or "Pyxis Tankers"), a growth-oriented pure play product tanker
About this update from Pyxis Tankers Inc.
[{"type":"text","content":"Maroussi, Greece, February 17, 2021 - Pyxis Tankers Inc. (NASDAQ CM: PXS) (the \"Company\" or \"Pyxis Tankers\"), a growth-oriented pure play product tanker company, announced that it has regained compliance with the NASDAQ’s continued listing requirements regarding the minimum closing bid price. On July 2, 2020, NASDAQ had notified the Company of its noncompliance with the minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Listing Rules of the NASDAQ Stock Market. On December 29, 2020, the Company received written notification granting the Company a 180-day extension, or until June 28, 2021 to regain compliance with the minimum bid price requirement. Subsequently, from January 28, 2021 to February 16, 2021, the Company’s closing bid price for its common shares has been $1.00 per share or greater and NASDAQ has informed that Company that it has regained compliance with the exchange’s minimum closing bid price rule (NASDAQ Listing Rule 5550(a)(2)) and the matter is closed. About Pyxis Tankers Inc. The Company owns a modern fleet of five tankers engaged in seaborne transportation of refined petroleum products and other bulk liquids. The Company focused on growing its fleet of medium range product tankers, which provide operational flexibility and enhanced earnings potential due to their \"eco\" features and modifications. The Company is positioned to opportunistically expand and maximize 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. 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. These statements include statements about the Company’s plans, strategies, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, the Company’s actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as \"may,\" \"could,\" \"expect,\" \"seek,\...