Pyxis Tankers Inc. · NASDAQ:PXS
Pyxis Tankers — IPO Roadshow (May 2015)
19 slides from Pyxis Tankers's IPO roadshow presentation, May 13, 2015
Slide 1: Company Presentation May 2015
Company Presentation May 2015
Slide 2: Disclaimer
2 Disclaimer This presentation contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “plans”, “expects”, or “does not expect”, “is expected'', “budget”, “scheduled”, “anticipates”, or “does not anticipate”, “
Slide 3: Company Highlights
3 Company Highlights Solid Balance Sheet ▪ Excess balance sheet capacity to grow tonnage through acquisitions ▪ Moderate capitalization with low cost, long lived bank debt Experienced Management & Board ▪ Strong management team with over 60 years of combined shipping industry experience ▪ Founder ha
Slide 4: Merger Transaction Overview
4 Merger Transaction Overview ▪ On April 23, 2015, Pyxis Tankers Inc. (“Pyxis” or the “Company”) entered into definitive agreement involving a merger with LookSmart, Ltd. (“LookSmart”) (NASDAQ: LOOK)*. Upon consummation of merger: ▪ LookSmart will have spun-off its assets and liabilities to a separa
Slide 5: Fleet & Employment Overview
5 Fleet & Employment Overview Balanced chartering intended to provide stable cash flows from time charters and upside opportunity through spot trading as rates are expected to improve Fleet Details (as of May 11, 2015) Fleet Employment Overview (2) Vessel Shipyard Vessel Type Size (dwt) Year Built T
Slide 6: Pyxis Organizational Structure
6 Pyxis Organizational Structure ▪ Streamlined structure allows management to minimize costs and focus on creating long term shareholder value Administrative ,Commercial & Ship Management Services (1) Administrative & Ship Management Fees 100% Existing Fleet on Water Epsilon Malou Theta Delta Norths
Slide 7: Experienced Senior Management Team
7 Experienced Senior Management Team Valentios “Eddie” Valentis Chairman & CEO, Interim CFO ▪25+ years of experience in owning, operating and managing within various shipping sectors, including product, dry bulk, chemical, as well as salvage and towage ▪Founder of Pyxis Tankers in 2015 and Pyxis Mar
Slide 8: Proposed Board of Directors
8 Basil G. Mavroleon Robin P. Das ▪ Shipping financeand investment banking experience since 1995 ▪ Founder ofAuld Partners Ltd,a boutique shipping and financeadvisory firm ▪ From 2011 to 2012,Managing Director (partner) ofNavigosCapital Management, an asset management firm focused on shipping sector
Slide 9: Experienced Ship Managers
9 Experienced Ship Managers ▪ PYXIS MARITIME CORP. (“Maritime”), the tanker management company founded by Mr. Valentis, will perform commercial management and supervise the technical management of Pyxis’ fleet ▪ Established in May 2007 to take advantage of opportunities in the product tanker industr
Slide 10: Strong Relationships
10 Strong Relationships Banks Customers Shipyards
Slide 11: Pyxis Growth Strategy
11 PyxisGrowth Strategy Preserve Strong Safety Record & Commitment to Customer Service and Support Utilize Portfolio Approach for Commercial Employment Maintain High Quality Fleet of Modern Tankers Grow Fleet Opportunistically Maintain Financial Flexibility ▪ Meet charterer’s preference for modern t
Slide 12: Market Overview
PXS PYXIS TANKERS Market Overview
Slide 13: Products Market Overview
13 Products Market Overview ▪ Ocean transportation of petroleum and refined products (known as “CPP” or “clean products”) including gasoline, diesel oil, gasoil, fuel oil and jet fuel as well as certain bulk liquids such as edible oils and chemicals ▪ Transported globally via product tankers such as
Slide 14: Product Tanker Industry – Demand
14 Product Tanker Industry –Demand ▪ Product tanker demand has been increasing • The dislocation of refineries away from points of consumption resulting in greater ton-mile demand • Refined product trade is much more complicated than crude oil trade due to refinery capacity and technology, governmen
Slide 15: Product Tanker Industry – Supply
15 Product Tanker Industry –Supply ▪ MR orderbook has fallen from high of ~58% in 2008 to current level of ~15% of the existing fleet (1) ▪ Shipbuilding capacity booked into 2017 • Current MR newbuild construction prices approximate 15 year mean price • Worldwide MR fleet is expected to grow on aver
Slide 16: Pyxis Tankers Financial Summary
Pyxis Tankers Financial Summary
Slide 17: Pro Forma Capitalization
17 *Pro Forma figures combining LookSmart and Pyxis financials as well as giving effect of delivery of Pyxis Epsilon in January2015 (1) Includes restricted cash Pro Forma Capitalization* Year ended Dec. 31 In ‘000 USD 2014 Cash and cash equivalents (1) $ 1,897 Total debt 87,957 Shareholders' equity
Slide 18: Company Highlights
18 Company Highlights Solid Balance Sheet ▪ Excess balance sheet capacity to grow tonnage through acquisitions ▪ Moderate capitalization with low cost, long lived bank debt Experienced Management & Board ▪ Strong management team with over 60 years of combined shipping industry experience ▪ Founder h
Slide 19: Contact
19 Pyxis Tankers Inc. K.Karamanli 59 Maroussi 15125, Greece Antonios “Tony” Backos SVP for Corporate Development, General Counsel and Secretary Phone: +30 210 638 0100 Email: abackos@pyxis.gr Contact