Pyxis Tankers Stock Price, News & Analysis

Pyxis Tankers (PXS) announced the successful refinancing of a $17 million loan secured by the Pyxis Epsilon. The new loan features an interest rate of Libor plus 3.35%, repayable over five years. CEO Valentios Valentis highlighted improvements in balance sheet leverage and a reduction in the company's weighted average interest rate from 7.1% to approximately 5%. The refinancing eliminates any scheduled senior loan maturities for the next two years, enhancing the company's financial stability.

Pyxis Tankers (PXS) reported unaudited financial results for Q4 2020, revealing net revenues of $4.5 million, a 38.4% decline from Q4 2019. The company experienced a net loss of $2.6 million with a loss per share of $0.12. TCE revenues dropped 41.9% to $3.6 million, attributed to reduced operating days and lower charter rates. The total funded debt stood at $53.6 million as of December 31, 2020. Looking forward, Pyxis Tankers is optimistic about a recovery in demand spurred by economic activity, aided by successful vaccine rollouts.

Pyxis Tankers Inc. (NASDAQ: PXS) is set to release its unaudited financial results for Q4 and the year ending December 31, 2020, after market close on March 24, 2021. A conference call will follow at 4:30 p.m. ET, where management will discuss the results. Participants are encouraged to join the call 10 minutes early using specified dial-in numbers. The call will also be available via webcast, with an archived version accessible shortly after its conclusion. Pyxis Tankers operates a fleet of five product tankers focused on the transportation of refined petroleum products.

Pyxis Tankers Inc. (PXS) has successfully closed a definitive securities purchase agreement, generating $25.0 million in gross proceeds. The company issued 14,285,715 shares of common stock at $1.75 each. Proceeds from this transaction will be allocated for general corporate purposes, including potential debt repayment and vessel acquisitions. ThinkEquity acted as the sole placement agent. The shares are unregistered under the Securities Act and will require a registration statement for resale.

Pyxis Tankers Inc. (NASDAQ: PXS) announced a definitive securities purchase agreement with investors, expected to generate $25 million in gross proceeds. The company will issue 14,285,715 shares of common stock at $1.75 per share, closing by February 19, 2021, subject to customary conditions. Proceeds will be used for general corporate purposes, including debt repayment and potential vessel acquisitions. The shares are not registered under the Securities Act, with a resale registration statement to be filed with the SEC.

Pyxis Tankers (PXS) has announced it has regained compliance with NASDAQ listing requirements regarding minimum bid price. Previously notified on July 2, 2020, for noncompliance with the $1.00 minimum bid price, the company was granted a 180-day extension to rectify this. The closing bid price remained at or above $1.00 from January 28 to February 16, 2021. NASDAQ has now confirmed that PXS meets the listing rules, closing this compliance matter. The company, focused on product tanker operations, aims to expand its fleet and enhance market presence.

Pyxis Tankers (NASDAQ: PXS) announced that CEO Eddie Valentis will present at the Noble Capital Markets’ Seventeenth Annual Investor Virtual Conference on January 20, 2020, at 1:30 PM EST. The conference is free for all investors to attend. A high-definition video webcast of the presentation will be available on January 21 on the company’s website and Noble Capital Markets’ site. Pyxis Tankers operates a fleet of five tankers focused on transporting refined petroleum products and is committed to enhancing operational flexibility and maximizing fleet growth.

Pyxis Tankers Inc. (NASDAQ: PXS) reported a net loss of $1.9 million, or $0.09 per share, for Q3 2020, a substantial increase from a $0.8 million loss in Q3 2019. Revenues fell to $5.1 million, down 30.6% year-over-year. TCE revenues dropped 29.3% to $4.4 million due to reduced operating days, reflecting fleet adjustments. Despite these challenges, the company secured a $3.7 million loan and raised $4.3 million from a convertible preferred share offering. The outlook remains volatile due to COVID-19 impacts, although some recovery is anticipated. Ongoing strategic charters and effective cost management are key initiatives.

Pyxis Tankers Inc. (NASDAQ: PXS) announced its upcoming earnings release for Q3 2020, scheduled for November 13, 2020, after market close. A conference call will follow at 4:30 PM ET to discuss the results. Participants can join via various toll-free numbers or through a webcast available on their website. The company operates a modern fleet of five tankers, focusing on growth and operational flexibility in the refined petroleum sector. For more information, visit www.pyxistankers.com.