MAROUSSI, Greece, Oct. 29, 2015 /PRNewswire/ -- Pyxis Tankers
Inc. ("Pyxis"), an international maritime transportation company
with a focus on the product tanker sector, announced today that
pursuant to its previously disclosed completed merger with
LookSmart, Ltd. (NASDAQ: LOOK) on October
28, 2015, Pyxis (PXS) common stock was approved to be listed
on the NASDAQ Capital Market under the trading symbol "PXS".
In connection with the closing of the merger, LookSmart
consummated a 1 to .1512 reverse split, thereby reducing the number
of its shares outstanding from 5,768,851 to 872,036. Each
post-split share of LookSmart was cancelled and exchanged for the
right to receive 1.0667 shares of Pyxis common
stock. Following the merger, Pyxis had a total of 18,244,671
shares (giving effect to rounding up on fractional shares) of
common stock issued and outstanding.
About Pyxis Tankers Inc.
Pyxis Tankers Inc. is a holding company incorporated on
March 23, 2015 under the laws of the
Republic of the Marshall Islands.
Pyxis owns a fleet comprised of six double hull product tankers,
which had a weighted average age of 4.3 years as of June 30, 2015, based on deadweight tonnage, that
are employed under a mix of short- and medium-term time charters
and spot charters. Four of the vessels in the fleet are
medium-range, or MR, product tankers, three of which have
eco-efficient or eco-modified designs, and two of which are
short-range tanker sister ships. Each of the vessels in the fleet
is capable of transporting refined petroleum products, such as
naphtha, gasoline, jet fuel, kerosene, diesel and fuel oil, as well
as other liquid bulk items, such as vegetable oils and organic
chemicals.
Forward Looking Statement
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 our plans, strategies,
financial performance, prospects or future events 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, you can identify forward-looking
statements by the use of words such as "may," "could," "expect,"
"intend," "plan," "seek," "anticipate," "believe," "estimate,"
"predict," "potential," "continue," "likely," "will," "would" and
variations of these terms and similar expressions, or the negative
of these terms or similar expressions. Such forward-looking
statements are necessarily based upon estimates and assumptions
that, while considered reasonable by Pyxis and its management team,
are inherently uncertain. A more complete description of these
risks and uncertainties can be found in our filings with the U.S.
Securities and Exchange Commission. We caution you not to place
undue reliance on any forward-looking statements, which are made as
of the date of this press release.
We undertake no obligation to update publicly any of these
forward-looking statements to reflect actual results, new
information or future events, changes in assumptions or changes in
other factors affecting forward-looking statements, except to the
extent required by applicable laws.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/pyxis-tankers-inc-pxs-completed-merger-with-looksmart-ltd-look-and-has-commenced-trading-under-symbol-pxs-on-the-nasdaq-capital-market-300169142.html
SOURCE LookSmart, Ltd.