Nasdaq-listed Pyxis Tankers has received US$6M raised from preferred shares and has also taken delivery of a secondhand MR product tanker, Pyxis Karteria
The funds Pyxis Tankers has raised were from an underwritten public offering of 308,487 shares of 7.75% Series A cumulative convertible preferred shares which trade on the Nasdaq Capital Market under the symbol PXSAP at a purchase price of US$20.00 per preferred share.
Pyxis Tankers received gross proceeds of US$6.17M prior to deducting underwriting discounts and estimated offering expenses. It intends to use US$5.56M of the net proceeds for general corporate purposes, including working capital and potential vessel acquisitions.
Such acquisitions might include vessels similar to the recently delivered Pyxis Karteria, a medium range product tanker of 46,652 dwt, which was built in 2013 at Hyundai Mipo shipyard in South Korea. The purchase was funded by a combination of cash and a US$13.5M bank loan that matures in seven years and is secured by the vessel. The tanker will be chartered in the spot market over the short term.
Pyxis Tankers chairman and chief operating officer Valentios Valentis commented “We are pleased to announce the successful delivery of Pyxis Karteria, which increases our fleet to six vessels including four modern eco-MR2s.”
He added, “The addition of this quality vessel to our fleet allows our company to take advantage of an anticipated improving chartering environment. We hope to consider other acquisition opportunities in the near future”.
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