Pyxis Tankers Inc. · NASDAQ:PXS
Pyxis Tankers — IPO Roadshow (September 2015)
21 slides from Pyxis Tankers's IPO roadshow presentation, Sep 11, 2015
Slide 1: Company Presentation September, 2015
Company Presentation September, 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 70 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 Mixed 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 Sept 8, 2015) Fleet Employment Overview (2) Vessel Shipyard Vessel Type Size (dwt) Year Built Type
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 ▪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 Maritime in 2007
Slide 8: 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: Banks, Customers, Shipyards
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 ▪ Global MR fleet stood at 1,698 tankers with aggregate 77.5 million dwt (1) ▪ MR orderbook has fallen from high of ~58% in 2008 to current level of ~12.5% of the existing fleet (1) ▪ Shipbuilding capacity booked into 2017 • Current MR newbuild construction prices
Slide 16: Pyxis Tankers Financial Summary
Pyxis Tankers Financial Summary
Slide 17: Recent Six Months Results – Pyxis Tankers Inc.
17 Recent Six Months Results –Pyxis Tankers Inc. Six Months ended June 30 In ‘000 USD 2014 2015 Voyage revenues $ 14,687 $ 16,561 Voyage costs (5,611) (2,630) Vessel operating expenses (5,781) (6,790) General & adm. expenses (38) (139) Management fees (760) (810) Depreciation & amortization (2,820)
Slide 18: Recent Three Months Results – Pyxis Tankers Inc.
18 Recent Three Months Results –Pyxis Tankers Inc. Three Months ended June 30 In ‘000 USD 2014 2015 Voyage revenues $ 7,160 $ 7,170 Voyage costs (2,800) (630) Vessel operating expenses (2,770) (3,270) General & adm. expenses (30) (40) Management fees (380) (410) Depreciation & amortization (1,440) (
Slide 19: Pro Forma Capitalization
19 *Pro Forma figures combining LookSmart and Pyxis financials pursuant to the merger (1) Includes restricted cash Pro Forma Capitalization* As of June 30 In ‘000 USD 2015 Cash and cash equivalents (1) $ 5,167 Total debt 84,726 Shareholders' equity 56,397 Total Capitalization $ 141,123 Net debt $ 79
Slide 20: Company Highlights
20 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 70 years of combined shipping industry experience ▪ Founder h
Slide 21: Contact
21 Pyxis Tankers Inc. K.Karamanli 59 Maroussi 15125, Greece Henry Williams CFO & Treasurer Phone: +1 516 455 0106 Email: hwilliams@pyxistankers.com Antonios “Tony” Backos SVP for Corporate Development, General Counsel and Secretary Phone: +30 210 638 0100 Email: abackos@pyxistankers.com Contact