Pyxis Tankers Announces Delivery of 2017 Built MR Product Tanker & Completion of Debt Financings
December 21 2021 - 6:30AM
Maroussi, Greece – December 21, 2021 – Pyxis
Tankers Inc. (NASDAQ Cap Mkts: PXS) (the “Company” or “Pyxis
Tankers”), an international pure play product tanker company,
announced today that pursuant to a previously announced
transaction, on December 20, 2021, the Company took delivery of the
Pyxis Lamda, a 50,296 dwt medium range product tanker built in 2017
at SPP Shipbuilding in South Korea. The Pyxis Lamda was
acquired from an entity related to the family of our Company’s
Chairman and Chief Executive Officer, for a purchase price of $32
million (the “Lamda Acquisition”). After her first special
survey, the Pyxis Lamda will seek commercial employment in early
January, 2022.
On December 20th, the Company also entered into
a new $29 million senior loan facility, under which borrowings of
(i) $21.68 million were used to finance a portion of the purchase
price of Lamda Acquisiton and (ii) $7.32 million were used to
refinance the Company’s existing indebtedness secured by the Pyxis
Malou.
For additional details about the Lamda
Acquisition or the Company’s new $29 million senior bank facility,
please see the Company’s press release dated November 15, 2021,
entitled “Pyxis Tankers Announces Financial Results for the Three
and Nine Months Ended September 30, 2021 & the Acquisition of
2017 Built MR Product Tanker” that was filed with the U.S.
Securities and Exchange Commission as an exhibit to the Company’s
Form 6-K on November 18, 2021.
Valentios Valentis, our Chairman &
CEO commented:
“We are pleased to announce the successful
delivery of the Pyxis Lamda, which increases our fleet to a total
of seven vessels including five modern eco- MR2’s. The addition of
this young vessel to our fleet positions the Company to take
advantage of an anticipated improving chartering environment within
the product tanker sector. Our existing lender, Alpha Bank,
has shown a further vote of confidence in Pyxis Tankers by
providing an attractive loan at competitive terms including a lower
interest rate margin with a reasonable amortization profile over
the next five years.”
About Pyxis Tankers Inc.
The Company owns a modern fleet of seven tankers
engaged in seaborne transportation of refined petroleum products
and other bulk liquids. The Company is 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. 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
report.
Forward Looking StatementsThis
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 performance 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,” “expects,” “seeks,” “predict,” “schedule,”
“projects,” “intends,” “plans,” “anticipates,” “believes,”
“estimates,” “targets,” “continue,” “contemplate,” “possible,”
“likely,” “might,” “will,” “should,” “would,” “potential,” and
variations of these terms and similar expressions, or the negative
of these terms or similar expressions. All statements that are not
statements of either historical or current facts, including
among other things, our expected financial performance,
expectations or objectives regarding future and market charter rate
expectations and, in particular, the effects of COVID – 19 on
our financial condition and operations and the product tanker
industry, in general, are forward-looking statements. Such
forward-looking statements are necessarily based upon estimates and
assumptions. Although the Company believes that these assumptions
were reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are beyond the Company’s
control, the Company cannot assure you that it will achieve or
accomplish these expectations, beliefs or projections. The
Company’s actual results may differ, possibly materially, from
those anticipated in these forward-looking statements as a result
of certain factors, including changes in the Company’s financial
resources and operational capabilities and as a result of certain
other factors listed from time to time in the Company’s filings
with the U.S. Securities and Exchange Commission. For more
information about risks and uncertainties associated with our
business, please refer to our filings with the U.S. Securities and
Exchange Commission, including without limitation, under the
caption “Risk Factors” in our Annual Report on Form 20-F for the
fiscal year ended December 31, 2020. 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 information in this press release, including
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.
CompanyPyxis Tankers Inc. 59 K. Karamanli
Street Maroussi, 15125 Greece info@pyxistankers.com
Visit our website at www.pyxistankers.com
Company ContactHenry Williams Chief Financial
Officer Tel: +30 (210) 638 0200 / +1 (516) 455-0106
Email: hwilliams@pyxistankers.com
Source: Pyxis Tankers Inc.
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